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Old 12-13-2016, 02:57 AM
MicheleCooper90 MicheleCooper90 is offline
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Join Date: Dec 2016
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Default Re: Types of FHA loan

1] Fixed Rate FHA Loan - Benefits those who would like to purchase a home but haven't been able to put money away for the purchase.
2] Adjustable Rate Mortgage (ARM) - Mortgage specifically designed for low and moderate-income families who are trying to make the transition into home ownership.
3] FHA Secure Refinance Loan - Helps when foreclosure is a threat.
4] FHA Reverse Mortgage - Designed for homeowners age 62 and older. It allows the borrower to convert equity in the home into income or a line of credit.
5] Energy Efficient Mortgage - Helps current or potential homeowners to significantly lower their monthly utility bills and incorporate the cost of energy efficient improvements into their mortgages.
6] Graduated Payment Mortgage - FHA loans for home buyers who currently have low to moderate incomes but expect them to increase substantially over the next 5 to 10 years.
7] Growing Equity Mortgage - Here payments start small and increase gradually over time.
8] FHA Loans for Condominiums - Specifically designed toward those who purchase housing units in a condominium building.
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