FHA has contributed to the housing recovery for first time buyers in California by extending flexible credit terms, low rates and minimal down- payment requirements. First time home loans in California are available at competitive interest rates high loan limits.
- Shop Lenders for 1st Time Loan Programs
- Pre-Qualify for Home Loans
- Great Interest Rates
- Flexible Credit Guidelines
The Federal Housing Administration (FHA) and the US Department of Housing and Urban Development (HUD) both offer first-time homebuyer programs in California. Typically, whenever a family or individual is shopping for their first home, they will hear the terms FHA or HUD yet have no knowledge of their relationship to one another. Before you sit down to compare FHA down payment programs for first time home buyers with HUD home buying help programs, it helps to know more about these two government agencies.
HUD is the federal agency that is responsible for managing government-backed or subsidized homes including FHA loans.
There are similarities between FHA and HUD loans. For instance, they both offer property rehab and repair options in their loan programs. Both loans, credit requirements are less strict than other types of mortgages because they are backed by the US Government. If there is a significant difference, it’s the fact that the FHA typically works with individuals whereas HUD loans are geared more towards commercial and multiple family dwellings. |
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