FHA Is Key To Low Down Honolulu Home Buyers
October 1st, 2009 categories: For Buyers, For Sellers, Mortgages & Financing
The Federal Housing Administration (FHA) residential loan programs are the last low down loan programs available for non-veteran barrowers. The maximum loan available for a Honolulu home or condo is $793,750 and a buyer can put as little as 3.5% down. Compare that to a 10% down payment requirement under current conventional loans. Forbes has an interesting article talks about recent growth in the use of FHA loans.
“During the current recession, the New Deal-era FHA’s share of government underwritten mortgage business in the U.S. has surged to 23%, despite increasing concern about asset quality and potential losses. Following its report, there are fears that the FHA’s financial woes could necessitate a significant injection of government funding.”CLICK HERE TO READ THE FORBES ARTICLE
If you don’t think you have enough cash on hand to meet current down payment requirements, think again! The use of an FHA loan and proper planning can get you into your new home with very little cash out of your pocket.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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