FHA in general is a great program that opens doors to many home owners. However, it is a very common misconception that FHA is the only loan program available to first time home buyers with low down payments (as low as 3.5% down).
With a good FICO score, first time home buyers can still have CONVENTIONAL loan withÂ as little as 3% down payment. Of course, the more down payment that you can put down, the better is your file.
Here are some pros if you can go the CONVENTIONAL route:
While certain guidelines and restrictions may apply, this is a great alternative to FHA loan. Please let me know if you have any questions email@example.com.
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