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| | FHA/VA Loans | | The Federal Housing Administration (FHA) is a federal agency within the US Department of Housing and Urban Development (HUD). The same options exist for FHA loans as the Fixed Rate Loan (10-30 year). FHA's objective is to assist providing housing opportunities and is widely used for 1st time home buyers. FHA loans are also available for refinancing a home. There are FHA guidelines. Consult with a Fairway Mortgage loan officer for details. The advantages for the FHA loan are: great for 1st time home buyers, lower down payment than a conventional loan, down payments can be a gift from someone.
VA loans are mortgage loans guaranteed by the Veterans Administration, an agency of the federal government that provides services for eligible veterans. |
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