You Won’t Believe How Easy It Is To Get a FHA Mortgage. Here’s Why.


Everyone dreams of owning a home. One of the ways to do this is by getting an FHA mortgage. This is a home loan which is provided to you by a private company. In addition to that, the loan is insured by the Federal Housing Administration (FHA).

The private company lending you the money is backed by the FHA. This way, if you are unable to pay back the mortgage, the private company is fully reimbursed by the FHA.

Moreover, the private company has support from the U.S. Treasury taxing authority. Therefore, they can lend out substantial amounts of money. FHA home loans are superb because they make it very easy for you to buy some property. Furthermore, they are very easy to get. Here is why.

Low down-payment amount

The FHA mortgage is easily accessible to you because it only requires a low downpayment for you to get a house. Under normal circumstances, the private lender will ask that you place 3.5% of the total cost as the downpayment.

Furthermore, you can access funds through this loan even if you have bad credit. Should you have more money than they need for the downpayment, it is advisable to place it. Thats because you will be able to save on interest as you service the mortgage.

The FHA mortgage loans are assumable

Should you decide to sell the house which you bought using the FHA mortgage, the buyer can simply assume the loan and continue paying from where you let off.

In most cases, they will find themselves enjoying low interest because you have already gone through the high interest years. The rate of interest during the life of the mortgage can be observed in an amortization table.

The FHA mortgage makes your house attractive in the buyer’s market thanks to the low interest rates. As a matter of fact, your rate may be among the lowest in the market hence making your house more attractive to buyers.

Easy access even after financial difficulty

Have you just recovered from bankruptcy? Did you just save your home from foreclosure? These factors can make it difficult to get other loans. However, the FHA mortgage loan is easy to get even with these situations in your financial records.

It is easy to qualify for FHA mortgage loans

The FHA mortgage loan is easy to access. The government’s guarantee makes lenders enthusiastic to issue these loans. While the private lenders do attach regulations which are more strict than those presented by the government, they are still easier than those issued by other lenders.

For you to qualify for this loan, you do not need to have a minimum income. You only need enough to show that you can service the mortgage.

Furthermore, your debt to income ratio needs to be reasonable. Something like 31/43 or simply 50/50 is ideal. Last but not least, a satisfactory credit score is permissible. You do not need to have a high credit score so as to acquire the FHA mortgage.

There is no limit to how much you can borrow

When applying for the FHA mortgage, you can borrow as much money as you need. There are no limits imposed on you. As long as you can make a 3.5% downpayment, you can borrow as much money as you desire.


The FHA mortgage loan makes it quite easy for low income earners to buy their own house. There are no limits on how much money you can borrow.

Generally, your quote should be guided by property prices in the area where you wish to live. The FHA mortgage is a simple, stress-free way to get the home of your dreams.