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What is an FHA Loan?

The Federal Housing Administration (FHA) was established in 1934 to improve housing standards and to provide a sufficient home financing system with mortgage insurance. Now families that may have otherwise been excluded from the housing market could finally buy their dream home.

FHA does not make home loans, it insures a loan; should a homebuyer default, the lender is paid from the insurance fund. If you are considering an FHA loan in Omaha, here are some things to remember.

  • Buy a house with as little as 3.5% down.
  • Ideal for the first-time homebuyers unable to make larger down payments.
  • The right mortgage solution for those who may not qualify for a conventional loan.
  • Down payment assistance programs can be added to an FHA Loan for additional downpayment and/or closing cost savings.

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Contact us today to learn more about how you can take advantage of special terms with FHA loans.

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