FHA Mortgages | FHA Loans
FHA loans offer many benefits for those seeking a low down payment with less than perfect credit. As an FHA-approved lender, BankSouth Mortgage may offer you this type of loan, which is guaranteed by the Federal Housing Administration, to provide you with more financing options.
With less restrictive qualification guidelines, these loans are designed to benefit many first-time homebuyers. In fact, some borrowers may qualify for down payment assistance. BankSouth Mortgage also offers FHA refinance products, including low documentation or streamline refinance options. Contact a BankSouth Mortgage expert for more details.
3.5% down payments
Gift funds allowed for down payment
Higher debt-to-income ratios allowed
Non-occupant borrowers allowed
Thin or alternate credit allowed
Did You Know?
FHA also provides renovation loans.
FHA's Streamline Refinance program allows qualified FHA-insured homeownters to refinance without an appraisal.