When purchasing a home in Plantation, FL for the first time, the process itself can prove to be quite overwhelming: house hunting, home inspections, and interest rates are difficult subjects to entertain, which can leave you feeling alone in the Home Buying process. Therefore, it is imperative that you conduct ample research to ascertain the wealth of resources available to you. The Federal Housing Authority (FHA), a subsidy of the Department of Housing and Urban Development, was created to ensure that home ownership is a possibility for all. From home loans to assistance with closing costs, the FHA is here to help!
The FHA has been providing low-interest home loans to families since 1934, and have helped millions of American families secure the home of their dreams. In the case of a Low Interest Loan, the FHA acts as a mediator between the bank and the prospective home owner. After careful risk analysis (to assure the bank of future payment) and financial investigation, the interest rate is then determined, and is insured by the FHA. In short, if you are guaranteed a certain interest rate, the FHA insures that the rate is fixed—preventing any future rate increases. Furthermore, an FHA loan can have interest rates as low as 3.5%, and lower, if you qualify. With the average interest rate for a home loan in Boca Raton sitting at just over 9.8%, and increasing, on average by half a percent every three years (Department of Housing and Urban Development, 2012), insuring your interest rate through the FHA can save you thousands!
A professional mortgage broker can help fill in the gaps of information that leaves you shaking your head. Plenty of individuals choose their mortgage broker in Plantation based on recommendations from friends and family, but you should really choose the broker that’s best for you in order for everything to go smoothly. There is no shortage of mortgage companies in Coral Springs, FL but going with Ace Mortgage Loan Corporation is a smart move! Ace Mortgage offers FHA mortgages as well as conventional Fannie Mae and Freddie Mac mortgages. As someone looking to purchase in Plantation, you will probably want to ask about our FHA mortgages. FHA mortgages are available with low down payments, are insured by the federal government, and are only offered by approved lenders.
Not only can Ace help you arrange financing, they can help you predict and manage the extra costs associated with one of the most important purchases of your life. Anyone looking for an FHA or any kind of home loan in Plantation should pick up the phone and call the professionals at Ace Mortgage Loan Corporation today for more information!