Finding a low-interest mortgage is increasingly difficult, especially in times where the economy is unstable and when the borrowers have many more credit options. So finding the suitable one is quite difficult task.While buying a house you might want to consider FHA home loans. Here's the help, a mortgage specialist can analyze your entire situation, and help you determine which loan is best for you.

2. INTRODUCTION
 We all understand that buying a home is a huge responsibility as it is a step towards your
dreams. Owning your home means you have secured your present and have planted the seed
for an investment in your future. Finding a low-interest mortgage is increasingly difficult,
especially in times where the economy is unstable and when the borrowers have many more
credit options. So finding the suitable one is quite difficult task.

3. TWO TYPES OF MORTGAGE LOANS
 There are two types of mortgage loans; government loans like FHA and VA, and the other are
called conventional loans. Understanding the differences between conventional, FHA and VA
loans can help you decide which loan program will best meet your needs. All three types of
loans are issued by banks and other approved lenders, but FHA and VA loans are backed by
the government, while conventional loans are not. Each type of loan has other distinct
characteristics. Let's take a look.
 While buying a house you might want to consider FHA home loans. FHA stands for the Federal
Housing Administration. This is a government organization that is responsible for Housing and
Urban Development or HUD. FHA is the group that insures mortgage loans so that the lender
will give you a better deal and will help you out without requiring a large amount of money
down. There are certain eligibility requirements when it comes to an FHA housing loan. The
lender and the FHA will look at your credit history, income, and how much ability you have to
repay the loan.

4.  There will also be requirements as to the maximum amount that you are allowed to borrow
and there will be certain loan terms that you will have to adhere to. In order to get a
FHA loan in California you will need to sit down with the FHA loan specialists to see what
other requirements you will have to meet in order to qualify the loans. This is a great option
for anybody who is purchasing a home, land, or both. FHA loans are best for borrowers with
limited cash reserves and/or average credit.
 To support veterans that wish to have their own home at a fair and viable mortgage interest
rate, the US Department of Veterans Affairs has started the Home Loan Program for qualified
individuals. VA mortgage interest rates are remarkably more competitive and can be the best
opportunity for veterans to have a sustainable mortgage. The first and generally most
important effect of the VA home loan program is that it attracts more lenders to the prospect
of providing loans to veterans. The VA does this basically through "guarantee" or "backing"
loans made by veterans so that if the borrower is unable to make the required payments on
time, the lender can goes to the VA to collect and prevent any loss from the loan. By
attracting larger numbers of lenders, the VA creates a healthy market for veterans to choose
from a therefore better VA loan rate offer from all the lenders. VA loans in California are great
for borrowers of limited income, with no cash reserves and with average or lower credit
scores.
 You have many decisions to make when choosing, which type of loan is best for your
situation. Is the FHA loan the best? What about a VA loan? When is a Conventional loan
better than an FHA /VA loan? A mortgage specialist can analyze your entire situation, and
help you determine which loan is best for you.
Call us at 877267- 4685
Ainsworth Financial Mortgage Cooperation will help
you!!!