Lower Down Payments and Closing Costs!

FHA Loans

Quick Facts

  • Lower down payment options
  • Lower Closing Costs
  • More lenient credit standards
  • Greater flexibility
  • Refinance is available

We are proud to offer our borrowers the option to take advantage of a Federal Housing Administration (FHA) loan. The FHA loan is an incredibly popular option and for good reason! They are often a game-changer for prospective homeowners who otherwise might struggle to purchase a home. It's also a great fit for first time home buyers!

These loans allow borrowers to contribute a lower down payment and closing costs. In addition, the guidelines for FHA loans are incredibly flexible. It’s a fantastic opportunity for not only first time home buyers, but those looking to refinance too!

Some additional benefits of FHA Loans include: Closing costs can be covered by seller, down payment can be a gift, and refinance is possible without an appraisal.

To learn more about FHA loans, contact your Mortgage Loan Officer today!

Frequently Asked Questions

1Does OVM Financial offer FHA loans?
Yes, OVM Financial offers a wide variety of excellent loan programs, including the very popular FHA loan.
2How do FHA loans differ from Convention loans?
The first key difference between the two is that FHA loans are insured by the government. The second key difference is that FHA loans often have lower down payment costs than Conventional loans.
3Why are FHA loans a popular choice?
FHA loans are a popular choice for several reasons. They have lower down payment costs than other loan options. Closing costs are often lower as well. In addition, FHA loans have more lenient credit standards.
4Can you refinance with an FHA loans?
Yes, OVM Financial is happy to help current homeowners refinance their existing FHA loan!

Loan Program Resources



Download FHA Loan Fact Sheet

Download Loan Fact Sheet

Calculator

Home Value $
Monthly
Total
Downpayment (%)
0%
Loan Term (yrs)
30
Interest Rate (%)
1.5%