Posts By Rebekah Radice
Location
Colorado Springs, Colorado
Phone: 719.387.1368
Posts
Purchasing your Colorado Springs home with an FHA home loan is a great way to finance a home with a low down payment, low interest rate and flexible lending guidelines. Due to the fact that FHA loans are insured by the Federal Housing Administration, anyone qualifying for an FHA loan is typically able to bypass [...]
Even though first time homebuyers often utilize FHA financing, it’s important to know that the Federal Housing Administration is not exclusive to 1st time homebuyers. In fact, FHA loans can be used again and again by buyers that meet FHA qualifying guidelines. Whether you’re interested in purchasing a home or refinancing, an FHA mortgage might [...]
FHA mortgage insurance allows prospective buyers to purchase a home with less than 20% down. Without mortgage insurance, lenders would not be willing to accept the risk of default thus forcing many buyers out of the market.
If you’re interested in purchasing a home and utilizing FHA financing, you might not be aware of the maximum loan limits assigned through the FHA for the Colorado area. The FHA loan limits are determined not only by state, but county as well.
Seller contributions can make a big impact for a first time home buyer struggling to save the required 3.5% down payment let alone all other related fees. A seller who understands the benefit and has the ability to offer assistance could make the difference between purchasing a home now and continuing to rent.
There are many reasons why Colorado Springs homeowners should consider an FHA loan refinance. You may have entered into an adjustable rate mortgage and find yourself paying far more than you’re comfortable with. An FHA mortgage would allow you to refinance your ARM into a 30 year fixed rate FHA mortgage. Or possibly your credit is less than stellar. Whatever the reasons, it’s most likely you could save time and money researching the FHA home loan benefits.
The preliminary information given during pre-qualification and the subsequent documentation provided at application are extremely important to ensuring a smooth transaction. The more detailed and thorough you can be, the easier your FHA loan approval will be.
*This is not an offer to lend. 


