There's a real upside to lower down payments
You can work hard and save for years. Still, it's a steep climb to set aside the small fortune required by many regular mortgages. The good news? There are programs that make homeownership a more affordable dream. With reduced down payments, flexible credit standards, and competitive rates, Federal Housing Administration (FHA) Loans are popular with many first-time homebuyers.
- Choose from 15- and 30-year mortgages
- Down payments as low as 3.5%
- More lenient credit score standards than most home loans
- Family and friends can contribute to down payment costs
- Potentially lower premiums on mortgage insurance
- Work directly with friendly KEMBA Financial Credit Union lenders, not government agencies
- FHA Loans are available for mortgage refinancing
