Struggling to Get Approved Because of Your Income? 5 Reasons to Consider a FHA Loan
Buying a home isn't cheap. But if you're determined to become a homeowner, the FHA home loan program can help. This loan program, ideal for first-time buyers with low incomes, can help you to build your credit and make home ownership a reality. So why should you consider an FHA loan? Here are just a few ways you'll benefit from these government-backed mortgages. You Can Get Approved With Just 3.5% Down Traditional mortgage lenders typically require you to pay 20% down on your mortgage, or 5% if you have good credit and agree to pay mortgage insurance premiums. But for a lot of younger people with lots of debt and low…