December 4, 2020

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Articles in Category: Graduate Payment Mortgage

FHA Loans: Using Online Calculators to Choose the Loan For You

When you want to get an FHA loan--especially for that first home purchase--there are a lot of options to choose from. How does a buyer know which FHA loan product to choose? There are many ways to answer that question, but it all depends on the buyer, what his or her goals are, and how important certain kinds of savings are to the future home owner.

 

FHA Graduated Payment Mortgages

There are many types of FHA home loans available to qualified borrowers. One of the best things about FHA programs is the acknowledgment that there's no one-size-fits-all solution when it comes to FHA guaranteed loans; a variety of programs are designed to help borrowers. One FHA mortgage loan is designed for limited-income borrowers who expect to see pay increases over time and want to buy a home in anticipation of those pay raises. The FHA Graduated Payment Mortgage targets first time home buyers with an important incentive--small early house payments that increase over time.