Federal Housing Administration (FHA) loans are great for those who are looking to purchase their first home with little to no down payment or those who do not meet traditional financing guidelines due to bankruptcy or foreclosure.
- 3.5% minimum down payment — can be received as a gift
- 30 year fixed rate
- For primary residence only (1-4 family units, condos, and planned unit development)
- Lower credit score qualification
- No maximum income limitations
- Maximum loan amount determined by county
Call Peter at (218) 336-1810 or Jennifer at (218) 336-1820 to set up an appointment.