FHA loans offer many benefits for those seeking a low down payment with less than perfect credit. As an FHA-approved lender, BankSouth Mortgage may offer you this type of loan, which is guaranteed by the Federal Housing Administration, to provide you with more financing options.
With less restrictive qualification guidelines, these loans are designed to benefit many first-time homebuyers. In fact, some borrowers may qualify for down payment assistance. BankSouth Mortgage also offers FHA refinance products, including low documentation or streamline refinance options.
Contact a BankSouth Mortgage expert for more details
Highlights:
- 3.5% down payments
- Gift funds allowed for down payment
- Higher debt-to-income ratios allowed
- Non-occupant borrowers allowed
- Thin or alternate credit allowed
Did You Know?
FHA also provides renovation loans! FHA’s Streamline Refinance program allows qualified FHA-insured homeowners to refinance without an appraisal.
