First World Mortgage operates as an FHA mortgage lender offering a range of financing options requiring minimal down payments. Our FHA loans are designed to assist borrowers with limited funds, not-so-stellar credit histories, and other obstacles that may prevent them from securing a traditional loan.
FHA loans may facilitate access to lower rates without necessitating a large down payment. These loans also provide the flexibility to include repair and renovation costs. These loans typically offer lower repayments compared to conventional mortgages, making them an appealing choice for all – particularly first-time homebuyers.
Advantages of FHA 203k loans include:
- Requires only a 3.5% down payment of the purchase price
- Interest rates and monthly payments are usually lower than conventional loans
- More relaxed qualification requirements compared to other loan programs