When Do I Choose An FHA Loan Instead of Any Other for a Virginia Beach or Chesapeake real estate purchase?
When you have very little money to put down and you think your credit might not be the best.
FHA Loans have some advantages over other types of financing. You still get competitive rates with only 3.5 percent down, and you get a choice between fixed and adjustable.
Yes, you’ll have a form of private mortgage insurance premium (MIP), but it’s at a lower rate than conventional loans with 3 percent or 5 percent down. [click to continue…]
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