Atlanta FHA Loans

Are you thinking about relocating to Atlanta? Right now is a great time to buy new homes in the area with an FHA loan. The Federal Housing Administration (FHA) has been making the dream of homeownership a reality for American families for over seventy years. Since it began in 1934, the FHA has helped millions of Americans become first time homeowners, and many more avoid foreclosure.

What is an FHA loan?

In order to lower the cost of obtaining new loans, the FHA has a program that insures privately issued loans. The FHA does not lend any actual money; they only protect your lender in the event of a foreclosure on your part. This makes you a very secure and desirable borrower, and one that lenders are willing to give great benefits to. For example, when you apply for an FHA loan in Atlanta, you will only have to supply a low down payment of 3.5%. Plus, you won’t have to pay private monthly mortgage insurance and will be offered really competitive interest rates. The other benefits of an Atlanta FHA loan include easy approval, streamline refinancing and flexible repayment schemes.

Who is eligible?

Anyone is allowed to apply for an FHA loan. When you apply for a loan, the lender will approve you based on your financial situation. The types of documents you will need to supply include credit scores, employment history, bank balances and debt-to-income ratio. Even if you have less than perfect credit, you should still consider applying. The FHA’s standards are much more lenient than private lenders’ standards.

Where do I apply?

When it comes to what lender you go through to obtain your Atlanta FHA loan, you have the choice between a mortgage company, bank and savings and loans association. The only requirement is that the lending institution is FHA-approved. Make sure you take your time researching lenders, as they will be the ones to help guide you through the entire loan process.

Get Started Today!

You can get started today by filling out our online pre-approval form. Pre-approval is fast, simple, free and has absolutely no obligation. Let us help you on the road to homeownership today!

Tennessee FHA Loans | Ohio FHA Loans | How FHA Loans Work | fha mortgage loan