Basic Types of Mortgage Loans with New Orleans Top Real Estate Team - FHA Loan
Burk Brokerage Real Estate November 1, 2023
Burk Brokerage Real Estate November 1, 2023
The FHA or Federal Housing Administration, loan is the most popular government guaranteed loan in the country. It requires as little as 3.5% down with lower credit score requirements than a traditional fixed rate loan. In certain instances, these loans may even offer lower interest rates. Although it’s essential to consult your mortgage lender for precise details, such as the mortgage insurance requirement.
Keep in mind that there may be some property type, condition, and price restrictions for FHA loans so it is crucial to talk with your Real Estate Agent to explore all your possibilities.
Remember, mortgage loans aren’t one size fits all, reach out to talk to the GiGi Burk Group about your goals and the best plan for YOU
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