FHA loans were created to help prospective home buyers purchase a home with little down and to help those with less than perfect credit. FHA loans are insured by HUD which is the government. FHA loans are a great option because:
**You only need is 3.5% down
**Have more flexible guidelines than a traditional mortgage
**Permits gifts for down payment
**The interest rates are lower than a traditional mortgage
**FHA loans are assumable
**Offer FHA streamline refinance if and when rates improve (Less paperwork and in many case, no appraisal)
Well these are just a few of the many benefits. For more information feel free to contact me anytime 619-208-6499.