FHA loans are an easy way for people to purchase a home if they have trouble meeting the requirements of a conventional mortgage loan. This Slideshare was created to provide a quick pros & cons on FHA loans to help you see if it's the right loan for you.

2. State Licensing Information.
What are FHA Loans?
FHA-approved lenders, like New American Funding, can offer these loans to
people who might have trouble meeting the requirements of a conventional
mortgage loan or refinancing.
• FHA loans are mortgage loans backed by the Federal Government.
• The most common types are the FHA home loan or FHA refinance loan.
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.

3. State Licensing Information.
Pros of FHA Loans
Down payment as low as 3.5%*
Can use gift money for down payments
Less strict debt ratios for the buyer
Lower closing costs
Lower FICO credit scores allowed
Can use it towards home improvement
*Restrictions apply. Subject to borrower and property qualifications.
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.

4. State Licensing Information.
Cons of FHA Loans
Pay More in interest for the lifetime of the loan
than a conventional loan
Mortgage insurance added on to monthly
payments
Limited to FHA-approved lenders
FHA loans are limited to 115% of median home
prices in the area
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.

5. Basic FHA Loan Requirements
Two years of steady employment
Credit score of at least 580 or better
No late payment notices in the last two years
Your new mortgage payment should be approx. 30% of your gross income
Valid Social Security Number
Must be a US Resident
State Licensing Information.
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.

6. State Licensing Information.
Buy That Dream House
FHA loans are one of the easiest loans to qualify for. New homeowners and
individuals who can’t afford a huge down payment or conventional loan will
benefit from an FHA loan.
FHA-approved lenders, like New American Funding, are available to help find
your family the right loan for your dream house.
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.

7. Pros & Cons of FHA Loans
Learn More About Home Financing
and First-Time Homebuyer Programs
State Licensing Information.
www.NewAmericanFunding.com
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.

8. State Licensing Information.
All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change
without notice.