If your love for the Treasure State means doing anything possible to find a home to call your own here, then you just need to send us a request for FHA mortgage Montana. This is the only other program, apart from those by the United States Department of Agriculture (USDA) and Veteran Affairs (VA) that offers a loan-to-value proportion of over 97%. This implies that you will only have to settle a down payment of 3.5% unlike the gigantic money down of conventional schemes at 20%. If it takes this to get close to 100% financing, why not give us a call today and start the application process!
Extra Benefits of Low Down Payment
Despite already having low money down of slightly over 3%, FHA mortgage MT also provides the following attractive propositions:
- You can acquire the down payment as a gift from a family relation, NGO or the government.
- Your closing fees, which form part of the upfront costs, can be shared between you and the seller.
We can negotiate a seller concession of 6% of all closing costs for you.
Benefits of FHA mortgage Montana
Because of the almost one hundred percent funding dispensation, this loan comes with related benefits, courtesy of the fact that the federal authorities guarantee it. These merits include:
- A comparatively low interest rate to that of the conventional market. Usually, lenders are willing to finance a guaranteed scheme like this one because it is not risky.
- The program also gives you the ability to distribute Upfront Mortgage Insurance Premium of 1% into the rest of the balance.
This is the best time to begin your application for FHA mortgage MT and therefore enjoy the wide range of benefits!
Do I Have the Necessary Qualifications?
- Is the property you are financing your primary residence?
- Do you have an employment history going back to the past 24 months at a steady income?
- Is your Credit Score more than 620?
If you have given an affirmation to each of the questions, then you need to begin the process of application.
You can get started on FHA mortgage MT by following the steps below:
- 1. Send us a request for the program and pass the pre-qualification stage.
- 2. Select a lender with a Good Faith Estimate (GFE) which reflects a competitive quote.
- 3. Get approval from the Housing Department (HUD).
- 4. Settle any remaining closing fees and begin homeownership.
Call FHA Home Loan Group for professional assistance.  202-4479