You may have heard of FHA loans or FHA Mortgages - but do you know what it's about? An FHA Loan is a 
loan that is guaranteed by the Federal Government. It allows a buyer to put down as little as 3.5% on a property, which is very helpful in our market where home prices can be high. FHA Loans are very common in our area, especially since the zero-down lending market has disappeared, and since the Government raised the limit to as high as $625,000 in some areas.
Other benefits of FHA loans are that they offer relaxed credit score guidelines, lower PMI (Private Mortgage Insurance) than Conventional Loans, and non-occupant co-borrowers. Further, the Seller can contribute a substantial amount toward closing, as much as 6% of the Selling Price.
Tim McIntyre, GRI
tmcintyre@cbmove.com
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Visit my website at www.timsellshomes.com.
Ellicott City Realtor, Catonsville Realtor serving Howard County, Carroll County and Baltimore County for more than 25 years.
