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8 Facts About FHA Loans

Here are 8 facts about FHA Loans to help you decide if an FHA loan may be right for you.

1. The Federal Housing Administration, or FHA, has been helping people buy homes since 1934. Currently, according to the FHA, it has 4.8 million insured single-family mortgages in its portfolio.

2. FHA-insured loans offer competitive interest rates.

3. FHA-insured loans have flexible credit standards.

4. Countrywide Home Loans, a division of Countrywide Bank, FSB, has been an approved FHA lender since 1969.

5. Your down payment for a FHA loan can be as low as 3%.

6. Your down payment money can be a gift from a family member, an employer or a charitable organization.

7. Countrywide offers FHA loans both with fixed-rate and adjustable-rate features.

8. The FHA also offers refinance loans on existing first mortgages. For more information, visit the FHA Web site at www.FHA.gov. Countrywide offers FHA loans for both purchase and refinance.

Why Choose an FHA Loan?

FHA-insured loans may be the right choice for you if you:

• Are a first-time home buyer
• Don’t have a lot of money saved for a down payment
• Need flexible qualifying guidelines

Countrywide Offers FHA-Insured Loans

Countrywide is one of the top lenders of FHA-insured loans in the country. Only lenders approved by the FHA can help you with an FHA-insured loan. The FHA Web site suggests that consumers shop around for the best lender and to review everything about the lender, not just the interest rates. For more information on FHA-insured loans, call the loan consultants at Countrywide today at 1-866-436-0620 for a free, no-obligation consultation.

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