Home Buyers still have a lot of choices when it comes to mortgages in this market. One option is government-backed, FHA home loans. FHA loans are a very viable option for first time home buyers.
Since the Federal housing Administration (FHA) insures the loan, your lender can offer you a better product. For example, low down payments, low closing costs and easier credit qualifying.
According to HUD, the FHA market share for home purchases is expected to triple over the next 3 years from the estimated 4 percent in 2007 to an estimated 12 % in 2009.
Whether you’re a first time home buyer or a repeat buyer, if you are thinking of buying a home, I would highly recommend that you call Phaedra Wilson with Sunstreet Mortgage, LLC. I’ve worked with her since 1996. Plain and simple, she’s honest. She will answer all of your questions and make applying for a loan an easy and comfortable process.
Phaedra can be reached at (520) 547-4148 or find more information here.