Let’s talk about FHA – Federal Housing Administration a little bit today. An agency of the U.S. Department of Housing and Urban Development (HUD). Its main activity is the insuring of residential mortgage loans made by private lenders. The FHA sets standards for construction and underwriting but does not lend money or plan or construct housing.
You hear about them most often in connection with FHA Loans. There are lots of good reasons to choose an FHA loan, especially if one or more of the following apply to you:
- You’re a first-time home buyer
- You don’t have a lot of on a house
- You want to keep your monthly payments as low as possible
- You’re worried about your monthly payments going up
- You’re worried about qualifying for a loan
They have some wonderful information for both Buyers and Sellers on the FHA website:
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Can I really buy a house?
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Who Can I Call for Help?
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Are you ready to buy a home?
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Mortgage Insurance Premiums
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How FHA’s Reverse Mortgage Program Works
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Don’t you need a lot of money down and perfect credit?
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How can I find out what my credit rating is?
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Predatory Lending
What About One Of These Homes?
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All statistics are gathered from the Buffalo Niagara Association of REALTORS®.
For more information, call our Myriad Team @ Keller Williams Lancaster at (716) 650-0051
Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call us at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home.
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