FHA Loan Mortgage Requirements | FHA Mortgage Down Payment Utah
With an FHA mortgage loan, you have the confidence that the loan is funded by Sun American Mortgage and backed by the Federal Housing Administration (FHA). The FHA has been helping home owners since 1934 by insuring home loans so that we can offer you a better deal. FHA is the largest insurer of residential mortgages in the world. An FHA loan allows buyers to purchase a home with as little as 3.5% down.
An FHA Home Loan has more flexible guideline requirements which are ideal for first-time home buyers or those with less than perfect credit. FHA home loans are also excellent for those who have less money to put down or with higher debt-to-income ratios. FHA home loans are also assumable, which means someone can take over your loan for you.
*Loan terms and limits subject to change. This page is meant for educational purposes is not a commitment to lend. To qualify for an FHA home loan, please contact one of our licensed loan officers or apply online.
We called Becky and Brandon after seeing how many positive reviews they had online. It was our first home purchase and we wanted to make sure we knew about all of our options. We met with them and they showed us all of our options. We ended up choosing an FHA home loan because of the great interest rate and the fact that we only had to put 3.5% down. Our realtor negotiated to have all of our closing costs paid for by the seller so it worked out perfect for us! We are so grateful! We recommend them to all our family and friends!
