FHA Loans
Owning a home doesn’t have to feel out of reach. With FHA loans, you can enjoy the flexibility of a low down payment, accessible credit qualifications, and additional support options to make your journey to homeownership smoother. Granite Bank is here to simplify the process and help you take the first step toward achieving your dream of owning a home.
I want a low down payment.
FHA Loans: A Smart Path to Homeownership
If you’re ready to buy a home but worry about the down payment, credit, or closing costs, an FHA loan could be the perfect solution. The Federal Housing Administration (FHA) loan program offers low down payment requirements, flexible credit qualifications, and other benefits designed to make homeownership accessible. Granite Bank is here to guide you through the process, helping you take advantage of this affordable option.
Why Consider an FHA Loan?
An FHA loan allows homebuyers to overcome common financial barriers, making it easier to purchase a home without needing a large upfront payment.
- Low 3.5% Down Payment: One of the main attractions of FHA loans is the low down payment requirement. You can purchase your home with just 3.5% down, making it more attainable for many buyers.
- 100% Gift Funds: The entire 3.5% down payment can be covered by gift funds, allowing family members, relatives, or even an employer to help with the cost.
- Seller Contributions: The seller can contribute up to 6% of the purchase price to help cover your closing costs and prepaid costs.
- Flexible Credit Qualifying: Since FHA loans are government-backed, they offer more lenient credit requirements. You may qualify for an FHA loan even with a lower credit score compared to conventional loans.
- Upfront Mortgage Insurance: This can be financed or paid in cash, providing additional flexibility.
- Refinance Opportunities: FHA loans may also be a good option for borrowers with limited equity looking to refinance their current loan.
Let's get you into your new home!
Our team at Granite Bank is ready to walk you through the details, ensuring you understand the benefits and requirements of the FHA loan program.
Ready to make your homeownership dreams a reality with a low down payment? Contact Granite Bank today and learn more about how an FHA loan can help you get into your new home with ease!
