The FHA home loan is the best option for buyers.
I do quite a bit of mortgage related reading, there’s a lot of this program being unveiled, this program going away, this program being refunded, get it while it’s hot kind of propaganda.
Usually what I have found is that unless you hit it just right you don’t realize the benefits of a certain program until its gone.
There really aren’t that many programs in this environment that have the staying power that FHA has and will continue to have.
The FHA home loan program was first conceived in 1934, of course it has evolved over the years but let that sink in 1934.
That’s over 70 years that the FHA has been financing housing and new home buyers.
The housing industry has seen a lot of home loan programs come and go but FHA even with all the challenges that the industry has and is facing remains a stalwart of new home financing.
On top of the confidence boosting fact that FHA has been around so long it is one of the only programs with the combination of a very low down payment requirement in conjunction with more lenient qualifying guidelines.
Buyers in a great spot in regards to affordability with the low values in conjunction with historically low rates.
If you are looking into purchasing a home you would be doing yourself a favor to look into the FHA program.
There are some programs that I think would be better than FHA although they are specific to California Public School employee’s and California State workers, if you don’t fall into that group than FHA is most likely your best bet, and if history is any indicator it will most likely be one of your best bets for a long time to come.
Keep in mind when looking into the FHA home loan program, do your homework on the lender you plan to work with so that you have a knowledgeable representative guiding you through the process. As with any loan program there are pitfalls that you need to be steered around.
Have questions about FHA or any other home purchase programs? You can either reach me here or leave a comment below and I’ll get right back to you!
Thanks for reading 🙂