If you’re looking for a mortgage with less stringent qualification criteria, FHA loans might be the perfect solution. Designed for a wide range of borrowers, FHA loans come with benefits that make homeownership more accessible. Here’s what you need to know:
• Low Down Payment: Unlike conventional loans that often require a 20% down payment, FHA loans need just 3.5% of the purchase price upfront.
• Credit Score Flexibility: FHA loans accept borrowers with credit scores as low as 580. Even if your score is on the lower end, demonstrating a strong history of on-time payments can work in your favor.
• Debt-to-Income Ratio Limits: The FHA ensures borrowers can afford their loans by limiting the debt-to-income ratio to a maximum of 43%.
• Mortgage Insurance Requirements: FHA loans require borrowers to pay mortgage insurance premiums to help fund the program and protect lenders.
At New Priority Lending, we specialize in FHA loans, offering personalized guidance to help you navigate the homebuying process. Our team is dedicated to finding the best financing solutions tailored to your unique needs. 
Ready to learn more? Contact New Priority Lending today to explore your options and take the next step toward homeownership.
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