One of the benefits is the max loan limit which in Santa Barbara County is $729,750. Compared to $650,000 for a FNMA High Balance.
The other is the low interest rate, which is offset by the high cost of mortgage insurance.
One problem is that sellers do not like to sell to FHA buyers as they do not want to be forced into making repairs.
Finally, FHA has much lower credit restrictions.
It is hard to get an FHA loan through, we can make it much easier with our funding guarantee.
Please call if you would like more information.
Tri-Emerald Financial Group