FHA Home Loans in Jacksonville Beach
Why an FHA Home Loan?
Home loans provided by the Federal Housing Administration (FHA) may make it easier for you to buy a home. For an FHA loan, a down payment of only 3.5% is required. Borrowers who cannot afford a traditional down payment of 20% or are unable to receive approval for private mortgage insurance may consider an FHA loan.
About FHA Home Loans
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Essentially, the federal government insures loans for FHA-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments.
The FHA program was created in response to the rash of foreclosures and defaults that happened in the 1930s in order to provide mortgage lenders with adequate insurance. It also helped to stimulate the housing market by making loans accessible and affordable.
The FHA Home Loan Process
Here’s how our home loan process works:
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- Complete our simple FHA Loan Qualifier
- Receive options based on your unique criteria and scenario
- Compare mortgage interest rates and terms
- Choose the offer that best fits your needs
FHA Home Loan Options
- Fixed-Rate Mortgage
- Adjustable-Rate Mortgage (ARM)
- 3.5% Down Payments
- Jumbo & Super Jumbo Loans
- Terms of 15-, 20-, 25-, and 30- years available for the fixed-rate mortgage products
