Facts to Consider Before Applying for an FHA Loan

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Introduction

• FHA Loan
• This government-backed mortgage loan insured by
  the U.S. Federal Housing Administration geared
  toward homebuyers with low credit scores. The
  loan covers the seller by insuring the amount
  lent, in case the borrower defaults.
• There are some important facts to consider before
  applying for an FHA loan.
• In this presentation we have listed 4 top facts
  about FHA Loans.

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Following Are Facts To Consider Before Applying
for FHA Loans

• 1 Easier to Qualify
• Fewer restrictions on the credit score.
• People with a credit score as low as 640 may
  qualify for the loan.
• You can plan to correct your credit score to
  qualify.
• 2 Lower Interest Rates
• FHA offers protection to the lenders.
• Attractive interest rates to attract more
  consumers.
• Buyers enjoy flexibility in their loan options.

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• 3 Help you Make Home Repairs and Upgrades
• Covers a wide range of rehabilitation projects.
• Includes renovations.
• Covers various renovation costs.
• The loan amount depends on the value of the house
  after it has been upgraded.

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• 4 Lower Closing Costs
• Much lower closing costs.
• Reduces your financial burden.
• Allows any other person apart from the buyer
  (borrower) to cover the closing costs.

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• Hiring an experienced FHA approved mortgage
  lender will help you to speed up the
  documentation procedure and understand the loan
  procedure.
• Drew Mortgage Associates help you to assess your
  loan requirements and shop for the right loan
  that justifies those requirements. If you find
  that FHA loan program doesnt suit your
  requirement, there are a number of other programs
  you can choose from.

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DREW MORTGAGE BRANCH OFFICES
Drew Mortgage Associates 196 Boston Turnpike
Road Shrewsbury, MA 01545 Phone
508-753-1656 Website https//www.drewmortgage.com
/
Peabody Mortgage Lenders 1 Mt Pleasant
Drive Peabody, MA 01960 Phone [phone]
Boston Mortgage Lenders 232 Commercial St Boston,
MA 02109 Phone [phone]
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