FHA Loans and Low Down Payments

Posted on October 17, 2013

If you think you need a 20% down payment to purchase a home think again. According to a recent survey nearly 2/3 of all home buyers put down 5% or less and with the interest rates at an historic low there has never been a better time to buy. If you’re thinking about buying your first home in the Austin or Bastrop, TX area, contact me today, I would love to earn your business. There are many options available for those who need assistance with down payments, including a FHA loan.

FHA Loans

An FHA loans is a US Federal Housing Administration backed mortgage which is lent to you by a FHA-approved lender. Federal Housing Administration loans are offered in conjunction with the U.S. Government. These loans are designed to assist home buyers overcome many of the obstacles to buying homes of their own. FHA loans are a loan that affords buyers the following benefits:

Low down payments
Closing costs can be covered by grants or even gifts
No cash reserves needed
Co-borrowers that are non-occupying are permitted
Depending on the program, loans may be fully assumable

FHA loans are recommended for first time home buyers, people lacking a down payment, those who plan to use gifts or grant money, individuals lacking credit history, and those who are concerned about qualifying income. These loans are also limited to single family homes, townhomes, condos, and manufactured homes on permanent foundations. While there are underwriting requirements on these types of loans, the FHA can allow home buyers to get down payments as low as 3.5 percent. The underwriting requirements tend to be less stringent than conventional loans. While these loans may be a good option for those who cannot come up with the minimum 5 percent down payment of traditional loans, most people would benefit from exploring all of the options available to them, including down payment assistance programs. Check out some starter tips for getting an Austin or Bastrop mortgage.

If your still on the fence about buying or selling you still have time.

Posted on October 7, 2013

If your still on the fence about buy or selling a home you still have plenty of time to take advantage of the low interest rates and to move in that new home before the holidays.

http://www.austinbastrophomesales.com/

Board is going BOLD

Posted on September 24, 2013

I am pleased to announce that after three successful years as a real estate agent with Keller Williams, the Nation’s largest real estate agency, I am ready to take my business to the next level. Starting October 21st I will be taking the highly recommended and sought after course BOLD. BOLD is a 7-week intensive course that’s based on the book BUSINESS OBJECTIVE: A Life By Design, written by Dianna Kokoszka, BOLD is designed to condition agents with powerful mindset exercises, language techniques, business-building strategies and live lead generation activities. My overall purpose for taking this course is to improve my business skills and gain the additional knowledge, expertise and education so that I can better serve my clients in the Austin and Bastrop, TX communities.

I mention this only to reenforce my commitment to the good folks in Austin and Bastrop that when it come to representing you in all of your real estate matters you can count on a level of knowledge and experience standing beside you. So if you’re are thinking about buying or selling in the Austin or Bastrop areas or if you know who might be, I would appreciate you giving me a call today.

FHA Loans

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