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Quick Frugal Facts

Frugal Shopping
Clip coupons and actually use them! How many of you have looked through your Sunday newspaper and took the time to clip coupons you planned on using then never used them! You can save money and be frugal by using the coupons.

 

Frugal Facts for FHA Home Loans

In 1934 the National Housing Act established the FHA as part of the Department of Housing and Urban Development. FHA Mortgage Loans helped to pave the way for Americans who could not afford traditional high interest rates and short-term loans which made mortgage payments very costly. The FHA program increased loan terms to 30 years and offered lower interest rates that were below the typical conventional loans.

FHA Loans Are Frugal Because...

FHA Loans offer low down payments with liberal guidelines for underwritting making these loans very attractive to people otherwise left out of home ownership

Lenders are insured incase the borrower defaults for the duration of the loan. This security allows the lender to offer lower interest rates.

Points can be discounted by the lender, this makes the deal better for both parties

FHA Home Loan Frugal Tips

The best way to determine if an FHA loan is right for you is to seek out an FHA loan specialist and request a home loan quote. As part of the home buying process, find out if FHA loans are an option for you as it could save you money and help you get into the home that fits your needs best.