The Federal Housing Administration (FHA) offers a government-backed mortgage loan that allows you to get into your home with a lower down payment requirement than other types of mortgages, and offers greater flexibility in accommodating your needs and preferences.  With an FHA home loan, you can secure a home with as little as 3.5% down.  This can give you a jump start to your dreams of owning a home.

The FHA home loan is designed to fit your needs now and as you pay it off in the future, helping you build confidence in your finances as you build equity in your home.

FHA Loan Features include:

• You can purchase a new home with as little as 3.5% down.
• 100% of the down payment on your new home can be gifted.
• You can refinance up to 96.5% of your primary home's value.
• Competitive Rates.
• Flexible mortgage financing options:  your choice of 15 or 30 year terms.
• No prepayment penalty.
• Want to limit closing costs?  You can finance the up-front mortgage insurance payment with the loan.

When you secure a mortgage from Peoples Exchange Bank, our in-house team handles underwriting, processing and the closing of the FHA loan.  This offers a unique experience that streamlines your communication and makes the entire process more convenient.  You can rest assured that we will take care of the details, while keeping you informed and involved.  Our lenders offer personalized service and are available to walk you through the entire home buying process.  Connect with a mortgage lender to review your situation and determine if you qualify for an FHA low down payment option.