Paulette Dystant has been working in the mortgage and loan industry
for more than twenty years. She is a highly knowledgeable individual,
who is dedicated to providing each of her clients with the best possible
customer service. She has worked with several types of mortgages,
including FHA loans. FHA loans are mortgages that are insured in order
to protect the lender. There are several reasons that this type of loan
might be a good option for you.
Borrowers with less than perfect credit may be able to get an FHA loan. Not everyone has stellar credit, and for some people, getting a mortgage may seem impossible because of their credit history. An FHA loan is a great option if you do not have good credit. These loans are insured, which means lenders are more willing to take a chance of people with less than perfect credit.
If you need to make repairs on the home that you are buying, an FHA loan could help. The FHA has a special loan product for borrowers who need extra funds for repairs. This type of loan is called a 203k, and it is based on the projected value of the home after the repairs are completed, rather than the current appraised value.
Another benefit to an FHA loan is it has a financial hardship relief program. If you experience unexpected financial hardship, you may be eligible for a temporary forbearance, a lower interest rate, or a partial loan deferral. Paulette Dystant is well versed in every step of the mortgage process and has a strong understanding of FHA loans.
Source: http://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-8.aspx
Borrowers with less than perfect credit may be able to get an FHA loan. Not everyone has stellar credit, and for some people, getting a mortgage may seem impossible because of their credit history. An FHA loan is a great option if you do not have good credit. These loans are insured, which means lenders are more willing to take a chance of people with less than perfect credit.
If you need to make repairs on the home that you are buying, an FHA loan could help. The FHA has a special loan product for borrowers who need extra funds for repairs. This type of loan is called a 203k, and it is based on the projected value of the home after the repairs are completed, rather than the current appraised value.
Another benefit to an FHA loan is it has a financial hardship relief program. If you experience unexpected financial hardship, you may be eligible for a temporary forbearance, a lower interest rate, or a partial loan deferral. Paulette Dystant is well versed in every step of the mortgage process and has a strong understanding of FHA loans.
Source: http://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-8.aspx
