FHA Loans - Home Buying process provided by Helene Cass and Team specializing in McDowell Mountain Ranch
RE/MAX Fine Properties
21000 N. Pima Road, Suite 100
Scottsdale, AZ 85255
(480) 563-3333
888 471 9500

Federal Housing Authority (FHA) Loan:

The government insures these loans so that borrowers can purchase a home with less money down than is required on most conventional loans. The limits on FHA loans are high enough to handle moderately-priced homes in many parts of the country. FHA loans are assumable for future buyers who qualify. Credit scores of 620 or better are needed on these loans.

Hypothetical Home Cost: $400,000
Down payment: $12,118.80 (minimum required is 3.5% of purchase price)
Mortgage Amount: $346,250 (Maximum Available)
Term of Loan: 30 years
Interest Rate: 5.5%
Monthly Payment: : $1,845.10

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