Home Loans

QWhat Are Fha Loans?
AFor many first time buyers, the Federal Housing Administration (FHA) is a program for people who have no credit history, or, if you do have a credit history, it does not need to be perfect. You can get an FHA loan with a 3% down payment, which can come from yourself, your immediate family, or even a special non-profit program that ÓdonatesÔ your 3%. Also, the seller can contribute up to 6% of the sale of a home, which could mean buying a home with no money down. Ask about the OWN Program, one of the non-profit down-payment assistance programs 1st Choice Mortgage offers.