A home purchase is a lifetime’s worth dream for many people so make sure you have all the bases covered before taking on this serious financial responsibility. Locking your interest rate and points can spell out the difference between an affordable home mortgage and one that could easily be out of your means in the few weeks it takes for your mortgage loan to be approved or your offer to be accepted.
You can consider the benefits of FHA mortgage loan. An FHA loan is a type of mortgage loan that is insured by and federally-assisted through the Federal Housing Administration. FHA loans are relatively easier to qualify for as compared to other mortgage loans. FHA loan rates are competitive and allows for lower down payments. FHA loan rate are even as low as 3.5% of the property’s purchase price. You can make use of FHA loan calculator and various materials on mortgage help to guide you in your search.
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