| Federal Housing Administration Loans |
| Benefits
|
- Low down payment and closing costs can be funded by gifts or grants
- No cash reserves needed
- Non-occupying co-borrowers are allowed
- Loan may be fully assumable depending on loan program
|
Property Types
|
- Single family homes
- Townhomes
- Condos
- Doublewide manufactured homes on permanent foundations
|
| May be right for you if... |
- You're a first-time homebuyer
- You lack a sufficient down payment, or plan to use gift or grant monies for down payment assistance
- You lack credit history
- You are concerned about qualifying income
|
