FHA Loans Now Available Through Fairport Savings Bank
Federal Housing Administration (FHA) home loans offer many benefits for homebuyers and they are now available through Fairport Savings Bank, as an approved FHA Loan Provider. Since 1934, FHA loans have been helping individuals and families achieve their dream of owning their own home. FHA loans offer many advantages for both first time and repeat homeowners. Some advantages include:
- FHA loans are often easier to qualify for and borrowers often qualify for higher mortgage amounts compared to conventional loans
- FHA loans require a low 3.5% downpayment
- Funds for downpayments can come from a variety of sources, include gift and/or grant monies
- FHA loans do not require pricing add-ons for FICO scores
- FHA loan refinancing available
FHA loans are available for residential, primary owner-occupied properties up to a maximum mortgage amount of $271,050. The loans are available with various fixed-rate terms.
For more information on FHA and other loans offered by Fairport Savings Bank, contact Mortgage Specialist Tony Villani at (585) 381-4040 ext. 605 or 703-5937.
