The Federal Housing Administration (FHA) is a division of the Housing and Urban Development (HUD) agency. The FHA's mission is to make homeownership possible for everyone-even individuals with modest financial means or low credit scores. Through the FHA, you could qualify for a low down payment mortgage or an FHA loan.
Talk to a lender at Primary Residential Mortgage, Inc. in Missoula, MT today. FHA lending is often suggested for first-time homebuyers, but an FHA loan is a great option for anyone looking to buy a new home on a tight budget. When you meet with us, we'll discuss your situation and help you decide if a low down payment mortgage is right for you.
Here are some major benefits of FHA lending you should know:
FHA loans require a borrower-paid guarantee. This guarantee, which funds the program, is in the form of a monthly insurance premium (MIP) and an upfront fee that’s financed into the mortgage principal.
If you’re ready to buy a home, call Primary Residential Mortgage in Missoula, Montana today to learn more about FHA lending.