4quotesfast.com - FHA and VA Loans

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The Federal Housing Administration (FHA) and the Veterans Administration (VA) provide mortgage loans with low or no down payments. These loans are insured by the FHA and VA, thus resulting in minimal out of pocket expenses for home buyers. If you are considering applying for one of these loans, please keep in mind there are certain requirements and restrictions for each. Also remember that a FHA home loan or a VA mortgage can mean homeownership for those who never thought they could afford real estate. Let 4QuotesFast.com find the most affordable FHA mortgage loans and VA home loans for your financial situation.

FHA Loans
FHA mortgage loans are a good option for all qualified first time homebuyers:
    - 3% down payment
    - Gifts from family and non-profit organizations can go toward your loan costs
    - Underwriting guidelines are less strict
    - Low down payments do not result higher interest rates
    - Reduced mortgage insurance rates

VA Loans
As the name implies, VA home loans are specifically for applicants cleared by military or other entitlements. The benefits of a VA loan are impressive:
    - If your qualified, certain veterans can receive finance for up to 100% of the sale price       of the home
    - Low or no down payment does not result in higher interest rates

If you are interested in a this type of loan, note that the maximum loan limit set by the VA is $417,000. Obtain a current Certificate of Eligibility and DD214 to apply.