Posted by madisonmortgage on March 26th, 2008
Wisconsin FHA loans and Illinois FHA mortgage loans are generally easier to qualify for than the typical conventional loan because the credit requirements are not as stringent and the down payment is much less than that of conventional loan. FHA loans are federally insured loans that allow buyers who have little or no credit history, coupled with limited funds available for down payment, to obtain a mortgage with a great interest rate and low monthly payments.
FHA mortgage loans are administered by the Department of Housing and Urban Development (HUD). They are available to anyone, whether your first or fifth home and can be used to purchase a home or refinance a home. FHA loans are currently available only to homes that fit under the specified mortgage limits.
FHA loans are popular with first time home buyers but they can be equally attractive to move-up buyers and homeowners looking for a home improvement loan. Wisconsin FHA mortgage loans and Illinois FHA loans are offered as 15 or 30 year fixed-rate mortgages and ARMs.
Visit our FHA Mortgage page for additional Wisconsin FHA and Illinois FHA program requirements.
Dennis Hardy
Toll Free: (877) 240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.Madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
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This entry was posted on Wednesday, March 26th, 2008 at 11:18 pm and is filed under Chicago Mortgage Programs, FHA Loans, Illinois Mortgage Programs, Madison Mortgage Programs, Milwaukee Mortgage Programs, Wisconsin Programs.
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