When it comes to buying Central Ohio real estate, you may looking at different types of mortgages. One type of loan you may be ignoring is an FHA loan, simply because you might not know exactly what one is. In reality, an FHA loan could be the option you need to buy a New Albany home.
There are a few misconceptions that come with the FHA title and if you learn more about what an FHA loan is you might be interested in trying to qualify for one. FHA loan facts:
- There are no income restrictions for FHA loans.
- FHA loans typically have lower interest rates. Right now traditional mortgages are hovering around 4.3%, and FHA loan could be as low as 3.5%.
- FHA loans are for all types of home buyers, not just first time home buyers.
- FHA loan limits can be large, nearing almost $800,000 in value.
- FHA loans can often be transferred to a new home owner when a property is sold.
An FHA loan could be the ticket to financing your Central Ohio home. Call us at The Raines Group to you learn more about Central Ohio real estate and financing options that might work for you.
If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.