FHA Mortgage in Jacksonville May Start the End of The Current Real Estate Dip
What is the FHA?
FHA stands for the Federal Housing Administration. The FHA actually doesn't make the loan but insures the loan to the lender who is loaning the money. Since the lender is being insured against loosing their money they are able to offer FHA borrowers easier qualifying terms and lower down payment requirements.
Low Down Payment
As a FHA Borrower you can work with as little as 3% down. What is great is this 3% can come as a "gift" from family, non-profit charities and even an employer.
Don't Have Great Credit? That's OK
The purpose of the FHA is to increase housing ownership. So often borrowers who can't qualify for a conventional loan can…