Sara Magers
(213) 444-2612
saramagers72@gmail.com
The Federal Housing Administration offers a variety of loans for home purchases and repairs, with the best one being an FHA Loan.
The Federal Housing Administration (FHA) is a government agency inside the U.S Department of Housing and Urban Development that insures mortgages for those who want to take on large loans, but need some protection from defaults happening because they're not as trustworthy or experienced in managing their money as others might be at this point.
When you apply for an FHA loan, the government takes care of 3.5% - which is a small price to pay when compared with other loans! Not only this but it's also affordable and perfect if your first time buying a home isn't so sure- thing or Maybe even many times over again since there are no credit requirements needed either way (aside from a little bit). Loans with fewer requirements make it easier for people who are struggling financially. This is why some borrowers may want to consider taking out a loan from relatives or even getting cash gifts as an incentive instead of going through other means such doesn't always apply in situations where you need money quickly but these types of programs do exist!
FHA loans offer special loan products to help with home repairs. One of these is the 203(K) which focuses on projected value once your project's completed, and can be a great option if you're looking for more certainty in regards to how much money will be left over after making improvements! Since it does not focus on the current appraised value of the home, you are able to finance up to $35K towards nonstructural repairs with this type of loan. The repairs can include home fixtures, painting supplies, and other replacement expenses.
FHA loans offer the best home purchase and repair options for those looking to get into their first house, or maybe just need some repairs done.
The government agency, Federal Housing Administration (FHA) helps those who want to take on large loans but need protection from defaulting because they're not as trustworthy or experienced with managing their money.
FHA loans are a great option for those who want to buy their first home but don't have the cash upfront. For only 3%, you can get an awesomely reliable and low-interest rate mortgage that will help make your dreams come true! You may want to consider taking out a loan from relatives or even getting cash gifts as an incentive instead of going through other means. This could apply when you need money quickly but those types of programs do exist!
When you take out an FHA loan, it's important to know about the 203(K) plan. This is an option for fixing up your home that allows more certainty in terms of how much money will be left over once renovations are finished! You can finance up to $35K in nonstructural repairs with this type of loan! The list includes home fixtures, painting supplies, and other replacement expenses.
Sara Magers
(213) 444-2612
saramagers72@gmail.com
Refinance process was seamless even with the Covid-19 lockdown. Sara was available and responsive with all communications, I would definitely recommend her for anyone needing home financing.
Christina-Manhattan Beach, CA
Refinance process was seamless even with the Covid-19 lockdown. Sara was available and responsive with all communications, I would definitely recommend her for anyone needing home financing.
Christina
Manhattan Beach, CA
Sara Magers
Team Loan Consultant
NMLS ID#: 1886099
address1880 CENTURY PARK E STE 412, LOS ANGELES, CA, 90067
saramagers72@gmail.com
Sara Magers
Team Loan Consultant
NMLS ID#: 1886099
address: 1880 CENTURY PARK E STE 412, LOS ANGELES, CA, 90067
saramagers72@gmail.com