FHA AND VA LOANS

In addition to borrowing money from private lenders to pay for a new house or refinance an existing mortgage,piaget replica  home buyers can turn to the Federal Housing Administration (FHA) or Department of Veterans Affairs (VA). These government agencies do not lend money directly, but instead insure mortgage loans made by lenders. The major difference between the two is that only veterans of the U.S Cheap Replica Breitling Watches Sale. armed forces are eligible for VA loans The FHA appraises and approves the property, as well as the qualification of the borrower, and our financing partners loan the funds. The loan is then insured by the FHA. The FHA charges the borrower a Mortgage Insurance Premium (MIP) which we collect and pay to the FHA. The borrower has the option of paying the MIP in a lump sum up front at a discount, or in payments added to the Buy Breitling UK Replica Watches mortgage over the term of the loan.



FHA ADVANTAGE 1
Low down payment: With FHA insurance, eligible buyers can purchase a home with a down payment of little as 3% of the FHA appraisal value or the purchase price, whichever is lower.
FHA ADVANTAGE 2
Buyers can have 100% of the down payment in the form of a gift and Non occupant co-borrowers are allowed to assist in the qualifying for the loan.
FHA/VA ADVANTAGE 3
Credit history does not have to be spotless to obtain financing through the FHA/VA. Loans are assumable under certain conditions unlike conventional loans which require perfect credit histories and are non-assumable. The Seller is required to pay the Processing fee, the Document Prep Fee, and the Tax Service Fee in an FHA loan, defraying some costs for the borrower.
     
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