A Quick Introduction to FHA Loans

Transcript

“Hello, I’m Scott Dill from Texas Home Loans. This is your intro to FHA loans. FHA loans are a great product for somebody that doesn’t have the most down payment. It takes three and a half percent to get a house purchase, and you get a little bit of leeway when it comes to credit. You still have to have decent credit, but it’s a little bit more lenient than regular conventional lending.

With a low down payment, you do pay an upfront mortgage insurance premium and you do pay monthly mortgage insurance. But this can allow you to get into a home, build some equity improve your credit, and hopefully put yourself in a better financial situation later on where you could sell a property.

Use that as your down payment than you don’t have to use an fha. Hopefully this is helpful and give us a call anytime to go over your situ. And we appreciate your help. Thanks.”