If you attended any sort of United States history class while in high school, then you’ve probably heard of the New Deal. A collection of executive orders enacted between 1933 and 1936, the New Deal was President Franklin Delano Roosevelt’s panacea for the Great Depression. The New Deal was known for creating many government programs and new agencies which are still in effect today. Social Security was one of the biggest programs along with the Federal Deposit Insurance Corporation (FDIC). One aspect of the New Deal which is often forgotten is that the National Housing Act of 1934 created a vital government agency still in effect today, the Federal Housing Administration. The purpose of the FHA was to insure loans given by banks and other lenders to homebuyers. It also served to oversee housing standards and conditions and stabilize the housing market following the Great Depression. Companies such as the Ace Mortgage Loan Corporation specialize in helping their customers with the FHA in Coral Springs, Fl.
Following the financial crisis of 2008, the FHA became one of the largest sources of mortgage financing in the United States. When the FHA insures a loan, it means that lenders can usually offer you a better deal on your mortgage. The FHA is responsible for millions of people getting lower down payments, lower closing costs and easy credit qualifying. FHA loans are popular because they usually only require a 3.5% down payment and are relatively easy to get. A lot of people are hesitant to look into buying a home these days. The recent debacle with subprime mortgages has left many with a bad taste in their mouth. It’s natural to feel uneasy about obtaining a mortgage loan, but businesses like Ace Mortgage Loan Company pride themselves on transparency and trust when it comes to their customers.
You don’t need to worry about getting swindled by a mortgage loan when you work with the professionals at the Ace Mortgage Loan Company. The friendly staff has a ton of experience when it comes to every type of home loan you could imagine. Interested in a reverse mortgage? How about fixed-rate or adjustable rate mortgages? All of your questions will be answered in a way that’s easy to understand. The world of mortgage loans can be confusing, frustrating and downright ruthless so that’s why the people at Ace Mortgage Loan Company are here to help. Don’t be intimidated by a mortgage loan any longer!