A great choice for first time homebuyers and individuals with less than excellent credit, this federally backed loan for up to $331,760 in Hampden County and $353,050 in Hartford County is offered at competitive rates with fixed terms available. Down payment assistance may also be available.
An FHA Loan may be a great solution for you if:
You’re a first-time or repeat homebuyer; or
You have a lower credit score; or
You want a low down payment; or
You want to refinance a high-cost mortgage.
FHA Loan benefits and features:
Low down payment: Minimum is 3.5% of the purchase price. Mortgage insurance is required.
Lower credit scores: Minimum is 580. Scores below 580 may still qualify, but the minimum down payment would be at least 10%. Restrictions apply.
100% gift funds are acceptable for down payment and closing costs.
Fixed-rate and adjustable-rate mortgages (ARM) available.
Flexible qualification guidelines.
Other requirements and conditions apply.
See sample scenarios HERE.