The FHA, or Federal Housing Authority, is a terrific loan. In fact, we do more of this type of loan than any other home mortgage loan. They’re a backbone of the industry, and they help in a lot of ways. They let you borrow a higher loan compared to your value. They have lower credit score requirements, and require lower income standards. Shoot, it even generally has lower home interest rates than conventional loans! I know, I know, it sounds AWESOME. But there’s ONE downside.
Private Mortgage Insurance can be scary. It’s always expressed as a percentage of your loan amount, and that number can fluctuate, making it an ESSENTIAL thing to watch as a barometer of when to buy/refinance. Well, since you’re reading this, you get in on the ground floor, pal, because FHA has dropped their FHA requirements nearly in HALF. That’s right, nothing else about the awesomeness of FHA loans has changed, except that now, you pay 1/2 as much on your PMI every month! We are currently going through EVERY FHA Loan that we have done since 2011 to make sure that we can save everyone money. If you get a call from us in the next few days, it’s because we want to save your cash.
So, what’s the bottom line? PMI on FHA loans is at a 3 YEAR LOW and we’re going to save you money on your home mortgage loan. People are saving, on average, $117 A MONTH. We close more FHA loans than anyone, and we’re the authority on all things FHA. IF you have an FHA loan, or are looking to refinance your home with a great loan that has low interest rates and smaller payments, call us today at 1-800-991-6494 and visit www.thehomeloanexpert.com today to apply. We make it easy to refinance your home to a better rate and save money.