Best Way to Finance

What is the best way to finance your San Diego North County home.  Best answer, it depends on each persons goals and financial situation.  However, in the current market, a FHA loan seems to be the easiest loan to get in today’s market place.

FHA only requires a 3.5% down-payment to a maximum loan amount of $697,500. That would cover most of the sales prices in San Diego North County.  Unlike conventional financing, FHA is not as sensitive to credit scoring. This can translate into much lower interest rates and payments. Despite the fact that FHA has the upfront Mortgage Insurance Premium to contend with, the impact to payment is minimal since it can be financed. Did you know that the qualifying standards are more flexible than conventional financing, that 100% of the down-payment can be a gift from family or a close friend, that the strength of qualifying can be from a non-occupying co-borrower and that there are no mandatory seller fees?

If you would like more information about FHA loans, Reverse Mortgages, or any other type of loan, contact Gary Harmon and he will put you intouch with a lending expert.

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