| FHA Mortgage rates are at an all time low making an | | | | payment and the closing costs. |
| FHA mortgage very attractive right now. Though the | | | | If you do have a few choices for a home loan then |
| federal government has recently changed the rules | | | | ask the mortgage broker for a good faith estimate on |
| and requirements to an FHA it is still a great way for | | | | each one. Compare all the costs involved and see |
| people with poor credit to own a home of their own. | | | | which one makes the most sense for your situation. |
| The question people ask though is how do you know | | | | Chances are the FHA loan will be on the top of your |
| the FHA rates are a good deal? My advice is to talk | | | | list. |
| to a mortgage broker. Chances are you already know | | | | If you wanted a lower rate than the 30 year fixed |
| your credit score is low. The mortgage broker can | | | | FHA rate then you can ask to see the FHA adjustable |
| give you all your mortgage options. You may not have | | | | loan rates. Though, with rates at such a low |
| that many choices. An FHA mortgage loan only | | | | percentage it is usually recommended that you stay |
| requires you to have 3.5 percent of your own money. | | | | with a fixed rate so you know how much your |
| The seller can pay your closing costs for you. This | | | | payments are. It all depends on what you need to |
| makes an FHA loan very attractive even if you have | | | | qualify for the loan. You can always refinance into an |
| good credit. First time buyers can get into their first | | | | FHA fixed loan at another time. Many people do. |
| home quicker by not having to save for the down | | | | |