FHA Loans

Mortgage Solutions Financial’s website has considerable information on FHA Loans.   There website is well organized and easy to navigate.  In addition to providing information on FHA Loans the site also provides information on a number of other different types of home loan programs.  Such as 203K Loans, Non Conforming Loans, Rural and Agricultural Loans, USDA Loans and VA Loans.

While readers of this blog will likely be more interested in the VA Loan programs, they might also be interested in the information on 203K loans.  The 203K program was created by the Federal Housing Administration as a “tool for community and neighborhood revitalization.”  The primary purpose of the program is “restoration and preservation” of existing housing.  For the typical borrower, these loans are used for renovation of a home at time of purchase.  So, if you are thinking about buying a “fixer upper” these loans may be helpful to you.

On the website you can also find other useful tools and information.  As an example, the site contains a mortgage calculator, a glossary and a link to seminars.  Even if you have made a real estate purchase before or if you were thinking about buying rental property, the glossary on the site is a good place to bookmark.  You may want to come back to the glossary and double check words and phrases your agent uses, you find in your contract or you see on any advertisements.   The glossary can assist you in becoming well informed and thus a more savvy buyer.