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Stewart Bates

NMLS ID 1821958

801-903-6319 sbates@megastarfinancial.com

FHA Loans

FHA Loans

If you are a first time home buyer looking to purchase your first home in Utah, FHA loans are a great option.  Along with great down payment options owning a home may be cheaper than renting.  It can also get you started in building equity and help with tax deductions.  We are a leading provider of FHA loans in the state of Utah.  For more information on FHA loans and how to qualify call or email us today at 801-903-2251 or sbates@megastarfinancial.com

What Are FHA Loans?

An FHA Home Loan is a federally insured Home Loan.  FHA Home Loans are provided by private lenders that have been approved by the Federal Housing Administration (FHA).  FHA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.  As an FHA approved lender Megastar Financial is able to provide you with an FHA loan in the entire state of Utah.

Advantages of FHA Loans

FHA loans allow you to come in with a lower down payment and many times a lower interest rate.  There are many options associated with an FHA loan whether it is a fixed or adjustable rate.

How to Qualify For FHA Loans

The guidelines for an FHA loan are set buy the FHA and require the verification of acceptable credit, income and down payment funds.   Megastar professionals are trained to help walk you through the application process and help you to see if you qualify as well as educate you as a current or prospective home owner.  Contact a Megastar Professional

Mortgage Insurance Premiums (MIP)

FHA does require a mortgage insurance premium up front as well as a monthly mortgage payment.  This is to insure the loan from default and allows FHA to be more flexible on its credit, income and down payment requirements.  Megastar professionals are trained to help walk you through and educate you about MIP.  Do not hesitate to Contact a Megastar Professional and let us help you understand your options better.

FHA Loan Limits in Utah

FHA has loan limits per county and will only loan amounts concomitant to those limits outlined in its guidelines. The Utah loan limits by county can be seen Here.  As an approved FHA lender Megastar is a leading provider of FHA loans in Murray, South Jordan, Draper as well as the entire state of Utah.  Call us for more information at 801-903-2251

Qualify For an FHA Loan Today

If you are buying your first home or looking for a low down payment home loan in Murray, South Jordan, Draper as well as the entire state of Utah we can help.  We are committed to helping our clients realize the dream of buying a home.  For more information on FHA loans or how to qualify contact us today 801-903-2251