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Federal Housing Administration (FHA) Loans

What is an FHA loan?

The FHA loan is a very common first-time homebuyer and refinance program designed to help individuals and families achieve their dream of home ownership. These loans are insured by the Federal Housing Administration (FHA), making them an attractive option for many borrowers. This program allows buyers to put down very little in the way of a down payment, and the guidelines are much less restrictive than standard conventional financing. FHA loans are wonderful options for borrowers in many different situations. 

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At Everest Lending, we specialize in FHA loans and offer a wide range of services to cater to your unique needs

Single family home

Why Choose an FHA Loan?

There are several reasons why FHA loans might be the right choice for you:

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  1. Lower Down Payment: FHA loans typically require a lower down payment compared to conventional mortgages, making homeownership more accessible to first-time buyers and those with limited savings.

  2. Flexible Credit Requirements: FHA loans are often more forgiving when it comes to credit scores, making them a viable option for borrowers with less-than-perfect credit.

  3. Attractive Interest Rates: FHA loans often come with competitive interest rates, helping borrowers save money over the life of their loan.

  4. Government Backing: As FHA loans are insured by the government, lenders may offer more favorable terms and conditions, even to borrowers with higher risk profiles.

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Veterans Affairs (VA) Loans

The VA loan is a no down payment option that we believe our country's Veterans deserve. However, don't confuse "no down payment" with bringing no cash to closing.  

 

Traditionally, in most cases the Veteran is still required to bring the closing costs to originate the loan. However, these costs are only a fraction of what a conventional loan would amount.

 

VA loans do not require monthly Private Mortgage Insurance and are a great benefit offered to our deserving Veterans. And as a Veteran owned company, our founder James DiBattista purchased his current home using the VA product. 

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