FHA Loans And Down Payment Assistance
Here’s a question we get from many new homebuyers: Do you have to use an FHA loan with down payment assistance? The answer is no — there are different types of mortgages available depending on your situation.
Each down payment assistance program has a list of “eligible first mortgages” that can be used with the program. A first mortgage is simply your primary home loan. And your down payment assistance can come in many forms, such as a gift forgiven at closing or a second mortgage — funded by a Housing Finance Agency (HFA), municipality, nonprofit or employer. Most down payment programs accept a range of first mortgages, including conventional, FHA, USDA and VA loans.
After reading the article if you are looking to purchase a home in Florida please contact me at 856-313-6655.
Please visit me atwww.gina.IThinkRealty.com or DM on Facebook: https://lnkd.in/ejHuFss
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My name is Manny Quiros, I’m a real estate professional in the “Disney Area”, I have lived in this area since 1999 and have called this area my home and place my wife and I to raise our three wo....
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