First Time Home Buyers
FHA loans have been helping people become homeowners since 1934. They are designed for first time home buyers through the FHA, or Federal Housing Administration, which provides mortgage insurance on loans made by approved lenders. The FHA (a government agency) then insures these loans on single family and multi-family homes. It is the largest insurer of residential mortgages, insuring tens of millions of properties. Since the loans are backed by the government, they require little down payment and qualify for low mortgage rates.
Please note: 15 Day closings can vary based on numerous factors related to borrower criteria.