FHA Home Loan Program
Purchasing a home is an American dream. Achieving this dream can be a difficult process. Finding the perfect loan, determining how much down payment you need to pay can get pretty stressful. East West Mortgage can help you with all your questions. East West offer many different mortgage programs. Many first time home buyers go with FHA loans. The FHA (Federal Housing administration) is a government administration headed by the department of Housing and Urban development. FHA mortgages come with many perks but the major one is a more lenient credit criteria, unlike a conventional loan. Those individuals with bad credit or no credit should not have any difficulty achieving a FHA loan.
FHA vs. Sub Prime
A FHA loan is a better choice than a sub prime (bad credit), because bad credit loans usually have higher interest rates, or larger fees. FHA loans are insured by the government giving lenders a peace of mind when giving out a loan. Thus lowering the rates compared to a sub prime loan, and lower fees. The FHA makes the lender pay some of the closing costs; saving you a lot of money. The main draw back of FHA mortgages is the amount of money you can borrow is limited. Limitations vary from area to area.
Why choose us?
East West Mortgage offers many different FHA mortgages as long with other financial programs. East West Mortgage strives to give you the lowest rates then any conventional bank. With rates ¼ % to 1/8 % lower rates. We do this by being an online mortgage company that eliminates the need for commission based mortgage broker. This allows us to pass the savings on to you. Being online also gives you more freedom.
You may fill out an application any time you see is convenient. After you apply we assign you your own personal mortgage broker, whom you can contact for any questions via phone or e-mail. For further information feel free to contact us
