Maine FHA Home Loan

Live in Maine? Looking for that perfect home? Want to pay off that high interest debt and lower your monthly expenses?

Perhaps a Maine FHA Home Loan is right for you!

If you are a first-time home buyer or have bought a home before and have less than perfect credit you have come to the right place. Maine FHA Home Loan will take you through the loan process step-by-step and will even prepare a personal analysis for you.

With the recent fall of sub prime mortgage lenders, FHA loans are making a huge comeback as a useful alternative for first-time home buyers and home buyers with less than perfect credit. By choosing a Maine FHA home loan, lenders will offer you lower, more affordable rates because the FHA insures lenders, so they have less risk by taking you on as a borrower. What this means for you is lower interest rates, and less money for a down payment, which equals big time savings.

The Maine FHA Home loan usually comes with an attractive interest rate which lowers the cost of home ownership. Whenever you go to sell the home, the FHA loan could be assumable to the next buyer (subject to meeting credit standards). Also, the FHA wants people to keep their house and in the event of tough times they can offer clients many different and helpful options. They also are typically much more flexible in terms of credit scores when compared to a conventional loan. If the applicant has little or no credit you can have a blood relative co-sign the loan.

• Low down payments
• Easy credit qualifying
• 1-4 unit homes
• You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
• FHA has financing for mobile homes and factory-built housing.

Fixer Uppers
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs – all in one loan.

Seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer “yes” to all of these questions, then the Maine FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.

Need advice? Contact me today at 207-321-5347.