FHA Loans

FHA Loans

How Much Cash Do I Need To Buy My Home?

builder-financing-imgSection 203(b), also known as FHA loans are the centerpiece of FHA’s single-family mortgage insurance programs, the successor of the program that helped save homeowners from default in the 1930s, helping to open the suburbs for returning veterans in the 1940s and 1950s. That helped shape the modern mortgage finance system.

Today, FHA One- to Four-Family Mortgage Insurance is still an important tool through which the Federal Government expands homeownership opportunities for first-time homebuyers and other borrowers who would not otherwise qualify for conventional mortgages on affordable terms, as well as for those who live in underserved areas where mortgages may be harder to get. These obligations are protected by FHA’s Mutual Mortgage Insurance Fund, which is sustained entirely by borrower premiums.

This program provides mortgage insurance to protect lenders against the risk of default on mortgages to qualified buyers. Insured mortgages may be used to finance the purchase of new or existing one- to four-family housing, as well as to refinance debt.

Anyone intending to use the mortgaged property as their primary residence is eligible to apply and be considered for an FHA insured mortgage through FHA-approved lenders.

Any person can apply for an FHA insured mortgage, but it is limited to owner-occupants.

Please view our Disclosures page for details.

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Word on the Street...

"Working with Theresa is like finding the key to a dream home. She educated and walked us through every step of our remodel. Without her we would have sold our house and missed out on the beautiful home it is today. Thanks Theresa!" -- Amy & Paul W.

Testimonials appearing on this site are individual experiences from those who have worked with Theresa Springer. They are individual results and results may vary.