NOT ACCEPTING CREDIT SCORES BELOW 620 FOR THE FHA HOME LOAN PROGRAM DUE TO COVID-19
NOT ACCEPTING CREDIT SCORES BELOW 620 FOR THE FHA HOME LOAN PROGRAM DUE TO COVID-19
Mansfield Mortgage is your local expert on FHA loans in Vermont. FHA loans can be utilized for a variety of mortgage-related investments such as buying your first home, reverse mortgages, energy-efficient based home improvements and purchasing mobile homes or factory-built homes. Contact Mansfield Mortgage to learn more and apply for an FHA mortgage loan!
FHA LOANS HAVE ASSISTED HOMEBUYERS SINCE 1934
How do FHA loans help? Since these loans are insured by the U.S. Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD), mortgage lenders can offer these loans at an improved rate.
With just 3.5% of the purchase price needed for a down payment, FHA loans are perfect for first-time homebuyers. FHA home loans are available for use on properties with one to four units.
If you are 62 years of age or older, live in your own home and own your home outright or have a small balance an FHA reverse loan may be perfect for you. FHA reverse mortgages allow you to receive cash in exchange for equity.
The cost of improving your home’s energy efficiency can be covered through an FHA Energy-Efficient loan.
FHA loans can be utilized to finance both mobile homes and manufactured homes. There are two types of FHA mobile and manufactured home loans that can be used for mobile and manufactured homes. The first option being a loan for the owner of the property in which the home will be located on. The second option is a loan for homes that are currently located in a mobile home park or will be at a later date.