FHA Mortgages Have Low FHA Mortgage Rates!

[ by Victoria Belle-Miller ]

Low FHA Mortgage Rates are One Reason to Finance with an FHA Mortgage FHA mortgages are a popular financing option for borrowers because of the many great advantages they offer. FHA mortgages are available to first time homebuyers who want to purchase a new home and current homeowners who want to refinance their current FHA mortgages. FHA mortgage rates are traditionally lower than most other conventional home loans, so now is a great time to take advantage of them! Low FHA Mortgages Rates Will Save You Money! With an FHA mortgage, you can receive a low, fixed FHA mortgage rate. Having a low interest rate will save you money on your monthly FHA mortgage payment. As you spend less on your mortgage payments, you will have more funds available for all of your other expenses. If you already have an existing FHA mortgage, you can refinance in order to receive a lower FHA mortgage rate. Refinancing your FHA mortgage also allows you to change the terms of your loan. You could switch from an adjustable FHA mortgage rate to a fixed rate, which would save you money over time because your rates would not increase. How You Can Qualify to Receive Low FHA Mortgage Rates The Federal Housing Administration insures most FHA mortgages and it does not require that you have a high credit score or a large income to qualify. The FHA does require that you have a clean credit history of at least one year. Most lenders will require that you have a credit score of at least 620 in order to qualify for the loan. Act Now Before FHA Mortgage Rates Increase! Right now FHA mortgages have a low down payment in addition to low FHA mortgage rates. FHA mortgage rates are currently low, but always have the potential to increase in the future. The FHA has already announced that they will be changing some of their FHA mortgage requirements, including an increase in the mortgage premium and the down payment requirement for those who have lower credit scores. Act now to take advantage of low FHA mortgages rates and other FHA mortgage benefits. Call 1-877-264-4736 to speak with an FHA loan specialist today for more information! 10:15 AM