If you are a first time homebuyer or are worried about not having a large down payment, then the FHA Loan may be a good loan for you. Backed by the Federal Housing Administration (FHA), federally insured loans like the FHA often mean lower down payment requirements and flexible qualifications.
Down payments as low as 3.5% with upfront, monthly mortgage insurance premiums (UMIP,MIP)
Flexible income and credit qualifications
No prepayment penalties if you pay off the loan early
Use gifts of money from family, friends, and employers for your down payment or closing costs
An FHA Loan may be right for you if:
Have little savings for a down payment?
You need more flexible approval guidelines
If that sounds like you, then an FHA Loan may be a good choice.
Equity Investment Capital 79405 Highway 111 Suite 9178 La Quinta, CA 92253
