FHA Home Mortgage

An FHA home mortgage is a loan insured by the Federal Housing Administration and made available to individuals with low to moderate income or limited savings. Ross Mortgage makes these loans available to qualified homebuyers who are not able to afford the required down payment or whose credit history may not be perfect.

With an FHA home mortgage, family members are able to co-sign or co-mortgage to help you qualify. A relative is also allowed to make your down payment and cover your closing costs, allowing you to buy a home and begin building equity without being restricted by certain approval requirements. As the market changes and interest rates go down, an FHA mortgage allows you to refinance with relative ease and lower your monthly payment or the term of your loan, saving you money.

However, the process and approval of an FHA home mortgage may take longer and require a more rigorous appraisal process than a conventional loan and the amount you are able to borrow is regulated and can vary. A Ross Mortgage representative can help determine if an FHA backed mortgage is right for you. Contact for more information.