FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal. Low down payments Low closing costs Easy credit qualifying What does FHA have for you? Buying your first home? FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties. Want a fixer-upper? FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan. Common Questions About an FHA-insured Loan Why choose an FHA-insured loan? There are lots of good reasons to choose an FHA-insured loan, especially if one or more of the following apply to you: You're a first-time homebuyer. You don't have a lot of money to put down 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. You don't have perfect credit. If any of these things describe you, then an FHA-insured loan may be right for you. Why? FHA-insured loans offer many benefits and a level of security that you won't find in other loans including:  Low cost: FHA-insured loans have competitive interest rates because the federal government insures the loans for lenders. Smaller downpayment: FHA-insured loans have a low 3.5% downpayment and the money can come from a family member, employer or charitable organization as a gift.  Easier qualification: Because FHA insures your mortgage, lenders may be more willing to give you loan terms that make it easier for you to qualify.  Rich Rano Senior Loan Specialist   MLO-120146 425-773-3100 Quintet Mortgage LLC MB-68255  19031 33rd Av W Suite 309, Lynnwood, WA  98036