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Blog Category: FHA Loans

Mortgage Options for People with Bad Credit

Mortgage Options for People with Bad Credit

How Can I Get Approved for a Loan With Bad Credit? When interest rates are low, it’s a great time to apply for a home loan. But for many borrowers, there’s an “if” involved in that statement. When interest rates are low, it’s a great time to buy a home IF you have a good ... More

How Your Credit Score Affects Your Mortgage Rate

How Your Credit Score Affects Your Mortgage Rate

How Much Can I Borrow With a 700 Credit Score? A high credit score is your golden ticket to a low-interest rate home loan. So if you are among the nearly 58% of Americans with a FICO credit score above 700, your borrowing power is strong. ... More

First-Time Homebuyer Qualifications and Benefits

What Are the Requirements for a First-Time Homebuyer Loan? Are you curious if you qualify as a first-time homebuyer? Good. Let's begin with this: you don’t need to be purchasing your first home to be a first-time homebuyer. Confused? Don’t be, and don’t allow a misleading name to keep you away from powerful programs that ... More

First-Time Homebuyer Down Payment Strategies

First-Time Homebuyer Down Payment Strategies

How Can I Get Money for a Down Payment on a House? When deciding to buy your first home, there are two important factors you need to address right off the bat. One, can I afford the monthly payment? Two, how much do I need to put down on a home? For most first-time homebuyers, the tougher of ... More

First Time Homebuyer Loans and Programs

First-Time Homebuyer Loans and Programs

Which Loan Is Best for First-Time Homebuyers? If you’re thinking about becoming a first-time homebuyer, you are probably wondering about mortgages. How much does a first-time homebuyer have to put down? How can I get a first-time homebuyer’s loan with no credit? Where should a first-time homebuyer start? ... More

An Introduction to Low Down Payment Programs

With flexible qualifying, help from friends or family and down payments as low as 3%, Summit Mortgage offers a variety of programs to choose from! FHA & Conventional Home Loans Today’s home buyer has several options for affordable, low down payment programs that can help many with different financial situations become homeowners. Both FHA and Conventional loans have ... More

An Introduction to FHA Home Loans

FHA Loans - A Low Down Payment Option A favorite for first-time homebuyers, the FHA loan offers flexible qualifying and credit requirements along with a down payment as low as 3.5%. FHA Home Loans Originally aimed at first-time homebuyers, the government insured FHA home loans now offers an affordable, low down payment option that helps buyers with ... More

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