Home ownership also comes in the form of FHA home loans

H ome ownership can be achieved in a number of ways, one of which is through FHA home loans. The federal housing administration mortgage insurance backed mortgage loan provide the financial assistance required by those who wish to buy a home but cannot afford it under normal circumstances. The financial assistance is not one that is typical in commercial loan terms, in the sense that the FHA does not actually give potential home buyers money in the form of a loan in order for theme to purchase the loan, but rather the FHA provides insurance to the loans made by mortgage lenders. Yet it is this insurance that the mortgage lender receives from the FHA that allows them to finance home owners that wish to buy a home. It goes without saying that there are still the inherent risks of non-payment of the mortgage loan by the buyer despite the FHA backed loan which provided insurance for the mortgage, which is the reason why FHA home loans still require that the buyers whom they assist meet certain qualifying criteria, criteria that mostly deals with the affordability of the buyer insofar as the repayment of the mortgage loan is concerned. This minimizes the risk for default from the beginning. Our advertising partners offer repayment duration of 12 to 120 months. I.e. 8000 in 48 monthly payments to the 4.50% rate. amount tot. due: 8,756.64; APR max: 10:50%.