Academy Mortgage has a new FHA Loan product that they are offering to qualified individuals.
This FHA loan package lets you buy a home with only putting down 1/2 a percent as a down payment on the house. According to Bryan Canar with Academy Mortgage, this means you can buy a $140K house with a $700 down payment.
This FHA loan is for single family, owner occupied homes only. That means if you are looking to buy a house for yourself to live in, this might be the loan program for you!
This home loan does require that the house meets FHA guidelines. The FHA guidelines for a home can be found here.
Worried that you have bad credit and can’t buy a house? I know lenders that are more than happy to give you credit counseling to help you buy a house again as quickly as possible.
If the house you want to buy is not in good condition and cannot meet the FHA guidelines, there is always a FHA 203K loan. A FHA 203K loan lets you have repairs done on a house that you are buying, prior to purchasing the home. These repairs ensure that the home is compatible with the FHA guidelines.
If you’re interested in this FHA Loan package or just looking to move to a new house in the future, Contact Me.