Folsom Home Loan

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FHA (Federal Housing Administration) loans offer benefits that ease the lending terms on mortgages. One of the main functions of the FHA is to insure mortgages against financial losses. An example would be if a borrower loses their home, the lender files a claim with the FHA and the FHA would cover the losses incurred by the lender.

The FHA home loan option is generally offered to senior citizens, first-time home buyers, and home improvements. One of the most difficult elements of the home buying process is having enough liquid funds to put on the down payment. As a first-time home buyer in Folsom, an FHA loan allows you to make a down payment as low as 3 percent. You may also qualify to roll your closing cost and other fees into the loan amount. If you have questions or need advice regarding an FHA loan, give us a call at (916) 988-4455.