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  First-Time Homebuyers

Buying a home with FHA

Get started here:

1. Get pre-approved. When you get pre-approved through FHA123.com, you have buying power! You will have an advantage over other buyers in the market. We can work directly with you and your licensed realtor.
2. Start your search for a home. Once you find your home and sign a purchase contract then the next steps will follow:
Meet with your attorney to start an attorney review of the purchase.
You have a right to a full home inspection.
By working with you every step of the way, you will close quicker and move in faster!

FHA for First-Time Homebuyers

A FHA mortgage makes owning your own home possible by making it easier to get approved for a FHA loan, which is less difficult than obtaining a traditional loan. FHA began to help promote first time homebuyers purchase their first home and to promote home ownership. FHA123.com makes it easy to understand, get started today!

Key benefits to a FHA purchase loan:

First-time-time-home-buyers can get a tax credit up to $7,500. ** (details below)
Minimum down payment of 3.5%.
Your down payment can be gifted to you.
A FHA loan has easier credit qualifying.
Low fixed rates available. APPLY ONLINE!
A FHA loan allows seller concessions for closing cost up to 6% of your home purchase price. The closing costs can now be financed into the loan.
Several property types allowed, includes 1-4 units, condos, town homes, modular homes, and manufactured homes.
Chapter 7 and 13 bankruptcies are allowed as long as certain stipulations are met.

FHA123.com facts about the homebuyer tax credit. **

Are you eligible?
If you have a valid Social Security Number and are a legal resident of the United States, you may qualify. To receive the maximum tax credit of $7,500, you must have an adjusted gross income below $75,000 for individuals (or $150,000 for joint filers).

Are you entitled to the full tax credit?
It will depend on the price of your home and your adjusted gross income. The credit amount will be 10% of the purchase price of your home purchase, not to exceed $7,500.

How does the credit work for me?
The credit acts like a loan from the government and must be repaid over 15 years. The repayment benefits are you don’t have to pay interest and you can make equal installments. You can also pay it off sooner, if you sell your home for a gain before the credit is repaid.

When does the program end?
The first-time homebuyer credit is retroactive for consumers who purchased homes on or after April 9, 2008. This is good news! If you’ve purchased a home already you can still qualify for the tax credit.

Take advantage now! Let the experts at FHA123.com assist you.

 

Featured Article:

Stress Less with FHA Mortgage for First Time Homebuyers NJ Options

Many in New Jersey looking to purchase their first home may feel overwhelmed when learning about all that’s required in order to qualify for a traditional mortgage. But with FHA mortgage for first time homebuyers NJ options, first-time homebuyers can have an easier time with qualifying and purchasing that first home. As an example, the down payment requirement for an FHA loan can be as low as 3.5 percent. This and other advantages make an FHA loan an ideal choice for many first-time homebuyers. 

Whether you’re a recent graduate, have recently married, or are simply at a stage in life where you realize the benefits of home ownership, you can enjoy a number of advantages with FHA mortgage for first time homebuyers NJ options. Apart from the minimum down payment of 3.5 percent, first-time homebuyers can also look forward to easier credit qualifying, the possibility of up to a $7500 tax credit, and low fixed rates among other FHA loan NJ benefits. By choosing an FHA loan option, first time homebuyers will have an easier time with purchasing a home in New Jersey.

Stress less when you look into FHA mortgage for first time homebuyers NJ options. By browsing through www.fha123.com you can learn more about the advantages of FHA loans and what the loan process entails. Plus, you can pre-qualify for your FHA loan by applying through our website. Learn more today and also feel free to give us a call at 800-FHA-1245 if you have any questions or would like professional advice from a NJ FHA loan expert.

View Our Featured Video:

Learn More How An FHA Loan Can Help You Own a Home

FHA Loan NJ, FHA Mortgage New Jersey,

Find out more about FHA Loan in New Jersey by contacting us today!

 

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