FHA insured Mortgage

FHA insured mortgages is easily available in both rural and urban areas for single families or 1-4 unit homes. To get FHA insured mortgage you must apply to HUD approved lenders only. FHA Rates are same as conventional loan rates but there is low down payment(3-4%). There are different types of FHA insured Mortgage available:

• Section 203(b): This is the most common and most popular program available. This program can be used to buy a home for single family or 1-4 units home and also manufactured homes and you can pay a fixed mortgage in 15-30 years in monthly payments.
• Section 234(c): This program is available to a person who is purchasing a unit in a condominium building. Any owner-occupant with good credit scores and will make the condominium unit permanent residence is eligible.
• Section 203(k): This program is for home improvements. It allows you for FHA refinance or improving a home build or sold 1-2 years ago.
  
• Section 237: This program is designed for people who have bad credit scores and want to buy a home and get home ownership.