As part of the Housing and Economic Recovery Act of 2008, the elimination of down payment assistance is cited (SEC. 2113) with an end date of October 1, 2008. According to the law, if you are pursueing a loan where you require down payment. . .
FHA home loans are insured by the Federal Housing Administration. Although FHA
mortgage rates may typically be higher than conventional loans, FHA mortgages offer many
advantages.
The Federal Housing Administration
(FHA) has been helping borrowers realize the American dream of affordable homeownership
since 1934. FHA financing advantages include:
Low Down Payment: as little as 3.5%
Flexible Credit Guidelines: generally easier to qualify than
with conventional home financing
Competitive Mortgage Rates
Down Payment Assistance: the down payment for your FHA loan can
come from a gift, and reserves are not an automatic requirement.
FHA is one of the few remaining programs that will allow up to 85% cash out on a
refinance and will lend in declining markets without an automatic reduction in loan-to-
value*.
We offer FHA financing on single & multi family (up to 4 unit) homes and condominiums.
Financing options include traditional fixed rate products, adjustable rate mortgages and
temporary interest rate buy-downs.
Best of all, your loan is insured by FHA which gives lenders greater flexibility with
our lending guidelines.
*Appraisal must support mortgage loan-to-value.
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Read what customers say about our level of service.
Posted: 11/20/09 1:22 PM
Amerisave representatives respond very quickly to my needs and requests.
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I got the questions that i asked answer for me. They were very friendly.
Posted: 11/20/09 11:17 AM
Everything is going well just waiting to close.
Posted: 11/20/09 11:04 AM
It was nice experience to deal with Amerisave.
Posted: 11/20/09 10:44 AM
Todd Milner has been absolutely wonderful and has been tremendously responsive. I've recommended him (and Amerisave) to others.. . .
