Seldom Seen Acres now FHA approved
We’re excited to announce that the Seldom Seen Acres Condominium community has received approval from the Department of HUD as an FHA approved project. This approval allows us to offer a fantastic option for financing that was previously unavailable. FHA financing offers some very unique benefits over traditional conventional financing.
Whether you or someone you know are a first time homebuyer, have little money for a down payment, or just want to keep your monthly payments low, an FHA loan may be a great option.
Now more than ever, customers who do not qualify to afford a typical conforming mortgage are finding themselves without loan options. Even with less than perfect credit, this traditional, affordable product just may be the one that can help open the door to a new home.
5 reasons why a traditional FHA loan is ideal today:
- Increased Loan Limits: FHA loan limits have increased to $362,790 making FHA a financing option for more borrowers.
- Low Down Payment: FHA loans require as little as 3% down payment. The entire amount may come from one of your family members, your employer or a charitable organization.
- Easier to Qualify: Since FHA provides the mortgage insurance for FHA loans, there are less restrictive parameters and guidelines than may be available for conventional loans.
- Less than Perfect Credit Qualification: If you have credit problems such as bankruptcy, you may have an easier time qualifying for an FHA loan than a conventional loan.
- No Income Requirement: There is no median income requirement or geographic restriction for FHA loans.
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