If you are ready to buy a home but are worried about your credit score and down payment impacting your approval, then applying for an FHA home loan in Ada may be the perfect solution.
The Federal Housing Authority (FHA) exists in part to encourage homeownership among people who might not otherwise be able to afford it. And currently, FHA home loans are more accessible than ever.
Citizens Bank of Ada has served Ada, Oklahoma for over 50 years with our reliable and honest lending solutions. Our FHA mortgage lenders are nearby ready to help you apply for a home loan today.
What Is an FHA Home Loan?
An FHA home loan is a home mortgage loan that is insured by the federal government.
Applying for an FHA home loan in Ada can satisfy the needs for those looking for:
It’s no wonder FHA home loans are a popular choice among first-time homebuyers and other borrowers who are normally ineligible to qualify for a home loan.
How Does It Work?
If you think you may be interested in applying for an FHA loan, contact our team of qualified FHA lenders near you to learn more about your options.
FHA home loans come in 30-year and 15-year terms with fixed interest rates, which are currently at historic lows.
Note that applying for an FHA loan requires borrowers to pay mortgage insurance, which is similar to the private mortgage insurance (PMI) you might find on a conventional loan.
Am I Qualified to Apply for an FHA Loan?
Qualifying for an FHA home loan in Ada is much easier than most other types of home mortgage loans. Here are the primary qualifications you must meet to be eligible:
How Long Is the Process?
Typically, pre-approvals for FHA home loans can be completed within one to three business days. The full process from applying for an FHA loan to closing can take between 30 days and 60 days.
Why Citizens Bank?
We’re proud to be locally owned and operated and to support our community as we have for over 50 years.
Let us show you how easy it is to purchase the home of your dreams by talking to an FHA lender near you. Contact our team at 580-332-6100 to get started today.
You are now leaving Citizens Bank of Ada’s website and will be redirected to another site. Citizens Bank of Ada makes no endorsement or claims about the accuracy or content of information contained within third party sites to which you may be going. The security and privacy policies on these sites may be different from Citizens Bank of Ada.
Click Here to proceed.