|
|
|
FHA Financing for Lehigh Valley Homes
|
|
The FHA (Federal Housing Administration) is a part of HUD. FHA Financing of your Lehigh Valley Home insures the loan so that your lender can offer you a better deal.
The claim to fame with an FHA mortgage is that it only requires a 3.5% down payment. In addition, an FHA Mortgage allows up to 6% seller's assist to help pay the closing costs.
The 3.5% down payment requirement cannot be waived. If a home buyer does not have the money it can be gifted to them (additional paperwork is needed) but they must have at least this minimum in order to qualify for the mortgage.
An FHA Loan can be obtained on Owner Occupied Properties that are 1-4 units. An FHA mortgage cannot be used to purchase a home that you will not live in.
The negative of using an FHA loan is that the appraisal on the house may determine that there are safety issues that must be fixed before the house can be purchased. One of the big things the FHA looks for is flaked or peeling paint on a Lehigh Valley Home built before 1978. The concern is that the paint may have lead in it.
Any repairs noted on an FHA Appraisal are not negotiable with the mortgage company. If the repairs are extensive, an FHA Renovation Loan may be needed.
FHA Mortgages are very popular and typically the loan of choice. |
|
Book Mark This Site
Joe Finnerty484-241-1641Contact Me
Property Search - Map
Property Search - by City
Property Search - Detailed
Lehigh Valley Home Seller
Get Your Home Sold!
Schools & Colleges
|
|
|
|
|
Direct: 484-241-1641
Email: joe.finnerty@foxroach.com
|
The Joe Finnerty Team
Direct: 484-241-1641
Berkshire Hathaway Home Services
Fox & Roach, REALTORS®
3101 Emrick Blvd, Suite 101
Bethlehem, PA 18020
Front Desk: 610-865-0033
FAX: 610-974-9430
|
 |
Keeping it Real in Real Estate!
If you are planning to buy or sell a home, Lehigh Valley Homes Online has the complete MLS listings for Allentown Real Estate, Bethlehem Real Estate, and Easton Real Estate. There is information about every municipality in Lehigh County and Northampton County. All real estate sales are included. Lehigh Valley Property listings include houses for sale, condos, new homes, and over 55 plus communitities
Site Map
Copyright © 2011,2012,2013,2014, 2015, 2016, 2017, 2018, 2019, 2020 Joe Finnerty Real Estate
All information provided is deemed reliable but is not guaranteed and should be independently verified.
|
|