Mortgage Rates Kentucky « Kentucky First Time Home Buyer Mortgage Loan
Mortgage Insurance Rates Increasing on FHA Loans in Louisville Kentucky
FHA Mortgage Insurance Rates Will Be Going Up on All New FHA loans in Louisville Kentucky Assigned April 9, 2012 and After.
FHA Loans are loans insured by the Federal Housing Administration (FHA). These insured loans minimize the risk lenders face by allowing buyers a down payment less than 20% of the price of the home. FHA Loans offer features that are attractive to many home buyers such as:
- Low Down Payment – as low as 3.5% of the purchase price of the home
- Low Closing Costs – closing costs, mortgage insurance and other fees can be included in the loan
- Easier Credit Qualifications – those who don’t have the credit score or history to qualify for a conventional loan may qualify for FHA financing
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