FHA
We at FHA
Today have a special division of our company
(FHA Today) that specializes in Federal Housing Administration loans. This type
of loan is one of the greatest tools available when it comes to buying a new
home or refinancing a property in order to get greater financial benefit from
it. The people who benefit from this type of loan are diverse. However, the group
that consistently makes up a large percentage of the total borrowers using this
type of loan is first-time homeowners. 
Anyone looking to purchase their first home will be encouraged to know that
our FHA loans require a low 3% down payment on the property. Compared to most
loans, this is a very small percentage that is required to put down in the initial
stages of the home owning process. Of course, one must be approved for such a
loan, but the low down payment is one of the main reasons why so many people
are interested in this type of loan.
The approval process for this loan is much like any other loan approval process.
However, instead of rejecting clients who have a blemished credit history, the
loan structure simply adds a small percentage on to the interest rate in order
to cover the risk of their business with you. Not only are lower credit scores
given higher interest rates -- in the FHA loan structure, clients with high credit
scores receive a discounted interest rate.
This manner of working out a mortgage agreement is one of
the reasons why this is such a popular loan type among first
time homeowners. Statistically speaking, lower income families
and minority families are purchasing their own home more and
more often due to the opportunities afforded by FHA;s loan
structure.
We at Ameribank Mortgage encourage anyone looking into financing
a new home, whether it is a first or a fifth home, to look
into the options and interest rates available through our
FHA loan structure. Visit our website at www.fhatoday.com
to find all of the information you need, and you can even
fill out an application online.
We specialize in personalized service, which means that
your first contact with us at Ameribank Mortgage will come
to you from your very own loan officer in our group. Once
your application is received, all of your contact with us
will come through your personal loan officer to make sure
that your case is handled personally, independently, and discretely.
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