Looking for FHA lenders in Central or Northeast Iowa? Experience better banking at Lincoln Savings Bank. We are your local FHA-approved lender with locations in Greene, Nashua, Allison, Aplington, Waterloo, Cedar Falls, Hudson, Lincoln, Reinbeck, Garwin, Tama, Ankeny, Grinnell, Clive, and Des Moines.
What is an FHA Loan?
Insured by the Federal Housing Administration, FHA mortgages are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional home mortgage loans. FHA loans are particularly beneficial to those buyers with less available cash. The rates on FHA loans are generally market rates, while down payment requirements are lower than for conventional loans.
FHA Home Loan Benefits
- Low down-payment.
- Closing costs can be financed.
- Loans are assumable to qualified buyers.
- Allows for lower credit scores than many conventional loans.
When to Choose an FHA Loan
If you can’t pre-qualify for a conventional loan, and/or you wish to make a lower down payment, an FHA home loan is probably your best option. If you are eligible for a VA loan as a military veteran or service member, you can obtain up to one hundred percent financing with no mortgage insurance requirement. A USDA loan is another option for 100 percent financing.
Contact an LSB Mortgage Lender Today!
Need help finding the right type of home loan for you? Let our experienced mortgage lending team help! Fill out the form below and one of our home loan experts will reach out to you soon. We offer personalized service and the local expertise that only comes from more than a century of service to your community. Contact us today or visit your nearest Lincoln Savings Bank branch in Northeast or Central Iowa.
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