February 23, 2015
A reader asks, “Im interested about information about FHA im a single mother also wanted to know if any help for military Mom my son is sergeant in the Marines im tired of living in apartment please help.”
We get many comments/questions just like this and in every case our answer is the same–there is definitely help available from the FHA, and they do have programs designed to assist newcomers to the FHA loan process.
The FHA official site is a great place to begin–consider what the FHA loan official site says about getting started with an FHA loan on the page titled, “Let FHA Help You”:
“FHA loans have been helping people become homeowners since 1934. How do we do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
–Low down payments
–Low closing costs
–Easy credit qualifying
What does FHA have for you?
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price. Available on 1-4 unit properties.”
For borrowers who need help understanding the FHA loan process including preparing for the loan and learning good financial strategies that can help you better afford a new home purchase, call the FHA at their toll-free hotline: 1-800 CALL FHA.
When you are discussing your needs with the FHA rep, ask for a referral to an FHA/HUD approved housing counselor in your local area. This housing counselor can assist you with questions about FHA loans, house hunting, credit requirements and much more.
Do you have questions about FHA home loans? Ask us in the comments section. All comments and questions are held for review before they appear on the website.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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