No Money Down FHA Loan
The FHA loan was designed to support people who have difficulty qualifying for a loan. East West Mortgage wants to help each and every consumer to be well on their way to holding the keys to their new home. The no money down FHA loan program will allow those with no way to raise money for a down payment to get into their home first, although FHA borrowers will have to pay more upfront and in their monthly mortgage payments.
Great Benefits!
The no money down FHA loan is great for first time homebuyers because it is affordable and has great benefits. FHA borrowers would have the benefit of: lowered required down payment, more flexible underwriting statements, less cash out of the pocket required, the lowest down payment (low as 3% but never more than 5%) requirement of any subsidized financing program. Homeowners can also refinance with no cost but this means that there is higher interest rate of interest on the new loan than if the closing cost.
Let East West Mortgage Help You!
If you are looking to become a first time homebuyer, remodeling your current home or to fix an investment property then a no money down FHA home loan may be the ideal solution for you. Come visit one of our mortgage lenders at East West Mortgage or simply give us a call at our toll-free number 1-800-880-4202 to get started right away.
