Federal Housing Administration (FHA) Loans are common among first-time home buyers due to its low interest rate and low down payment. As government-backed loans, FHA loans are a great option for those who have stable employment but may not qualify for a traditional home loan. In a fast-growing city like Nashville, many home buyers are looking to purchase their first home and an FHA loan can help make it a more affordable option.
Advantages of FHA Loans
- Simplified Requirements With flexible requirements, an FHA loans is a good choice for a first-time buyer. Nashville residents are able to purchase a home within guidelines that work for their financial goals. FHA loans offer attainable credit requirements and reduce income obligations.
- Only 3.5% Down As government-backed loans, FHA loans require borrowers only have to pay only 3% down upon purchase of their home. This low rate make it possible for those who cannot make a large down payment.
- Assuming a FHA Loan If you decide to sell your Nashville home, the home purchasers have the option to assume your previous FHA loan. This process ensures can save the new homeowners thousands of dollars upon purchasing their home.
- Quick Loan Process FHA loan borrows can save time with their loan process since FHA loans are backed by the government. The time you save can be crucial in helping you secure your dream home in the competitive Nashville housing market.
FHA Loans with Golden Oak Lending Nashville
As an FHA-approved lender, Golden Oak Lending Nashville understands the booming Nashville housing market. With years of experience and individualized attention, our team works hard so you can feel comfortable and confident throughout your FHA loan process. Call or contact Golden Oak Lending Nashville and get started on your FHA loan application.
