The Federal Housing Administration, generally known as “FHA”, provides mortgage insurance on loans made by FHA-approved lenders and brokers. State Street Home Loans is an approved FHA mortgage broker.

FHA makes buying a home easier than ever. There are lots of reasons to ask us about an FHA loan instead of taking a conventional or an expensive and risky sub-prime mortgage loan. Why not take advantage of the many benefits and protections that only come with FHA:

Easier to Qualify – Because FHA insures your mortgage, our lenders are more willing to give loans with lower qualifying requirements so its easier for you to qualify.

Less than Perfect Credit – Even if you have had credit problems, such as bankruptcy, or if you have no credit, it’s easier for you to qualify for an FHA loan than a conventional loan.

Less cash needed – We have a low 3.5% down payment, and that money can come from a family member, employer or charitable organization. Other loans don’t allow this.

Lower monthly payments – Many times, FHA loans have competitive interest rates because the loans are insured by the Federal Government. Always compare an FHA loan with other loan types. Also, mortgage insurance is less than comparable conventional products.

If you fall behind on your mortgage, FHA is more forgiving – The FHA has been around since 1934 and will continue to be here to protect you when the others walk away. Should you encounter hard times after buying your home, FHA has many options to help keep you in your home and avoid foreclosure. State Street Home Loans has been originating FHA loans for the past decade. It has never been better than now to apply for an FHA loan. Effective March 6, 2008, HUD offers temporary FHA loan limits that will range from $271,050 to $729,750 (Limits). The limits are much higher than ever before. Call State Street Home Loans for loan limits in your area. Call State Street Home Loans today, and find out whether an FHA loan is the loan that would best meet your needs. Our representatives are standing by to assist you.

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