At Fhahomeloangroup.com, we ensure that residents of Raleigh, Charlotte, Durham, Morganton and elsewhere can realize homeownership without any financial stress. Via FHA mortgage North Carolina, the southeast of the nation will never be the same again due to the prospect of owning a condo, an existing home or manufactured property at 97% loan-to-value (LTV). This infers that you will pay only 3.5% down payment which makes the remaining sum, or LTV, way higher than that of a commercial program that charges 20% down payment. Another inviting prospect is a very low interest rate.
Avail some of the Lowest Interest Rates in History
Since 1934, when FHA mortgage NC began, there have been many economic changes, starting with the depression of the 1930s and the recent recession of 2008. However, none has ever dramatically hiked the interest rate of this program due to these facts:
- Because the Federal Housing Administration (FHA) guarantees the funds, lenders find this program less risky than its commercial equivalents and thus charge a low rate.
- The current rate is historically low, at 4.125 percent.
FHA Mortgage North Carolina
This is your best moment indeed to contact us with an application for FHA mortgage North Carolina when the rates are favorable.
Choose the Best Amortization Plan
FHA Home Loan Group supports two major amortization plans for borrowers to choose according to their financial prospects in the future. These include:
- 1. The 30-year plan of FHA mortgage North Carolina at a permanent interest rate. This is the most common offer, because it constitutes of an arrangement where the interest margin remains the same throughout. For example, if it starts at the current 4.1%, it remains unchanged throughout the term in spite of market changes.
- 2. The 15-year Adjustable Rate Mortgage (ARM) is an offer that can recycle the interest rate or term of the loan in the course of FHA Mortgage NC. Its advantage lies in the fact that you can refinance to a lower than the existing rate down the line, or extend the term to a 30-year period.
Indeed, we recommend that you go for the permanent rate if you have a stable financial future and the variable-rate plan if your circumstances are likely to change in coming days.
How to Apply
In order to avail the current low interest rates of FHA mortgage NC, you need to apply right away. Here are the few steps that you will follow:
- Submit your loan request after passing the pre-qualification stage.
- Place a lender from our database, who has certification from the Housing Department (HUD) and charges a competitive rate.
- Secure financing after gaining approval.
- Settle closing costs and start the repayment process.
This is the best time to apply for FHA mortgage North Carolina, when the rates have gone down dramatically. At FHA Home Loan Group, we will not only help you pass the pre-qualification stage with a low credit score, but will ensure that the seller settles at least 6% of the closing costs.
Begin the process by contacting us today. Call  202-4479