Offering an assortment of low down payment financing options, First World Mortgage functions as an FHA mortgage lender. Our FHA loans are specially designed to assist those buyers who may face difficulties qualifying for a standard loan due to inadequate cash, imperfect credit history, and other potential obstacles.
With FHA loans, you can enjoy lower rates without having to accumulate a significant down payment. These loans also permit you to include costs related to home renovations and repairs. Choosing this loan means that your payment is usually less than a regular mortgage, making FHA loans an appealing choice for many – particularly those buying a home for the first time.
The benefits of FHA 203k include:
- Allows you to allocate just 3.5% of the purchase price as a down payment
- Interest rates and monthly payments are typically lower than conventional loans
- Offers more lenient qualification requirements compared to other loan programs