A Federal Housing Administration-insured loan is a great option for many first-time homebuyers and those with low and moderate incomes. FHA-insured mortgages are a valuable financial tool for many buyers, especially in times of low affordability. They help them achieve homeownership. Many sellers and agents may refuse to accept FHA offers based on widespread myths regarding such financing. This can create another barrier for consumers who are underserved to become homeowners.
Julia Gordon, Federal Housing Commissioner is on a campaign to clear up misperceptions about FHA loan . For example, the idea that FHA loans have unreasonable requirements for property conditions. Gordon urged real estate professionals at the REALTORS(r), Legislative Meetings held in May to educate themselves on FHA financing to accurately explain its benefits to their clients.
Gordon recently sat with REALTOR(r) Magazine and discussed how FHA is extending homeownership access, not just through its traditional loan programs but also by enhancing property rehab programs as well as expanding housing counseling resources.
