San Mateo de Santa Fe has FHA Approval. What does that mean for you?

FHA was created by the Federal Government to provide affordable lending options to qualified borrowers.

Advantages:

• FHA insures the loan. Because this limits a lender’s risk, lenders are more willing to loan on an FHA approved property.
• Smaller downpayments: Only 3.5% down is required
• Downpayment may be a gift from another party
• FHA loan guidelines are more relaxed, allowing alternative credit sources, higher debt to income ratios and other accommodations.
• FHA interest rates are extremely competitiveCertain terms and conditions apply. Check with your lender to determine if you are an appropriate candidate for an FHA loan.