An FHA 203b loan is a conventional type of mortgage loan for purchasing a refinancing your home. This type of FHA mortgage may only be used to finance your primary residence.

Here are a few of the advantages to FHA mortgages:

• Minimum down payment of 3.5%
• All closing costs and down payment can be from a family gift or approved community grant program
• Less credit score sensitive than conventional mortgage programs
• Higher debt to income ratios than conventional programs

Please contact a mortgage expert to determine if an FHA loan makes sense for you. If you cannot get a mortgage now our experts will work with you to help you become credit worthy.