Pittsburgh FHA Loans: Mortgages for First TIme Buyers

FHA loans have been helping people become homeowners since 1934. How do we do it? Golden Triangle Mortgage Corporation and the Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal. FHA mortgage loans feature:

Low down payments
Low closing costs
Easy credit qualifying

What does an FHA home loan do for you?

Applying for your first home mortgage?
FHA might be just what you need. Your down payment can be as low as 3% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties. What is the purpose of this program? To provide mortgage insurance for a person to purchase or refinance a principal residence. The mortgage loan is funded by a lending institution, such as a mortgage company, bank, savings and loan association and the mortgage is insured by HUD. What are the eligibility requirements?

The borrower must meet standard FHA credit qualifications.
The borrower is eligible for approximately 97% financing. The borrower is able to finance the upfront mortgage insurance premium into the mortgage. The borrower will also be responsible for paying an annual premium.
Eligible properties are one-to-four unit structures.