"...Along with ultra-low FHA mortgage rates which rival those from Fannie Mae and Freddie Mac, FHA loans are attractive because they offer a minimum downpayment requirement of just 3.5 percent -- the lowest of all widely-available loan programs.And now, a new Federal Housing Administration program -- the Homeowners Armed with Knowledge program -- is expected to add to the program's allure.
Via FHA HAWK, first-time home buyers will get access to reduced mortgage insurance premiums (MIP) at closing and, after 18 months of payments, will earn an MIP reduction which lasts the life of their loan...."
If you need a reputable lender to explain all of your financing options, please shoot me an email and I will reply with the contact info of the lenders we work with all the time. they are very knowledgeable and honest. they can walk you through all of your financing options. I look forward to hearing from you!