FHA mortgages are home loans that are insured by the Federal Government. This insurance protects the lender from losses suffered if the home goes into foreclosure. It is not the same as hazard insurance or insurances that pay in the event the borrower dies or becomes disabled.
FHA allows a buyer to purchase a home with as little as 3.5% down. They tend to be more lenient on areas such as credit, funds to close and coborrowers.
FHA tends to be more flexible than Conventional financing in the money needed to purchase the home. In an FHA mortgage the customer must put at least 3.5% of the sales price into the transaction. Some of this money may be used for down payment and the rest for closing costs . Keep in mind, however, that the total cost to close on an FHA is commonly over the 3.5%. With the down payment, closing costs, money to establish escrows for taxes and insurance plus interest to finish out the month of closing, the total costs can be closer to 6 or 8% of the sales price.
For FHA Lender click here: http://www.todaylending.com/fha.php
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Tulsa, OK
MLS# 1309923
Brian Pingleton of Keller Williams Realty
Skiatook, OK
MLS# 1311236
Ginger Jones of Keller Williams Realty
Tulsa, OK
MLS# 1306060
Alice Slemp-Owens of Coldwell Banker Select
Cookson, OK
MLS# 1312071
Betty Wilhite of Tenkiller Property.Com LLC
Owasso, OK
MLS# 1302950
Allison Pittman of Greater Green Country
Broken Arrow, OK
MLS# 1235020
John Walenciak of McGraw, REALTORS
Okmulgee, OK
MLS# 1306895
Scott McCarter of Keller Williams Realty
Tulsa, OK
MLS# 1310176
Sue Blair of Chinowth & Cohen, REALTORS






Information is provided in part by the Tulsa Area Multiple Listing Service of the Northeast Oklahoma Real Estate Services (NORES). Copyright 2009. All information provided is deemed reliable but is not guaranteed accurate and should be independently verified. NORES MLS Internet Data Exchange (IDX) information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information was last updated: 2013-05-22