Single Family: $506,000
Family of two: $647,750
Family of three: $783,000
Family of four: $973,000
Contrary to misconception, the FHA doesn’t lend money. They insure
loans made by other lenders.
ADVANTAGES
OF FHA LOANS
· Low down payment: currently as little as 3.5%
·
FHA loans are assumable* with a qualified borrower
· More flexible underwriting standards
· Manufactured homes qualify.
·
Gift funds for down payment and closing costs are
allowed
·
Up-front Mortgage Insurance Premium can be financed
·
Non-occupant co-borrowers are allowed for
qualifying purposes
·
Charges on conventional loans such as tax service
fees, underwriting fees, copy & courier fees are not allowed to be charged
to the buyer with FHA loans
·
With FHA’s no cost streamlined refinancing you
can lower your payment at NO COST to you. Usually, closings can occur quickly.
·
Rehab your house with only one loan using the FHA
203K program
Seattle
Team Real Estate can recommend lenders who will perform a no cost pre-approval for serious buyers, and let
you know if an FHA loan is right for you.