FHA Loan Rates
May 11, 2008

30 Yr. Fixed
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No Points
Low Interest
Best APR

15 Yr. Fixed
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No Points
Low Interest
Best APR

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Remember, the FHA does not make home loans. They insure the FHA loans that we can assist you in getting.

FHA.com is a private mortgage company specializing in fha home loans and is not associated with the federal government or HUD / FHA.

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FHA LOAN TYPES

FHA Refinance
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FHA Loan (fixed rate)
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Energy Efficient Loan
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Growing Equity Mortgage
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FHA Condo Loans
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Graduated Payment Mortgage

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FHA Facts | FHA Loan Types | Down Payment Grants

FHA Down Payment Grants
-- AmeriDream Program

AmeriDream is a non-profit organization dedicated to helping people find affordable housing. Part of the AmeriDream mission is to help low and moderate income families buy homes by offering down payment assistance. Buyers who are qualified for an FHA loan but don't have the money for down payment and/or closing costs are eligible to apply for AmeriDream down payment assistance:

A down payment gift of up to 10% (typically 3%-6%) of the purchase price.
A true gift-the down payment assistance is not repaid by the home buyer
Home buyer must have an approved FHA home loan or pre-approved FHA loan.

To participate in the AmeriDream down payment assistance program, buyers should;

Get pre-approved for an FHA mortgage and start looking for a home.
Make an offer on the home you want to buy and get a ratified contract.
Your loan officer applies for the AmeriDream down payment assistance program on your behalf.
You will receive a "Notice of Gift Approval" from AmeriDream.
Close the deal on your new home.

The seller must participate in the AmeriDream program, but your loan officer can assist a seller in signing up for the program by showing where and how to apply. For your home buying needs, the loan officer will handle your application for AmeriDream down payment assistance, but may require additional information from you to help fill out the form. AmeriDream is just one of many organizations offering down payment assistance to those with FHA approved home loans. If you have been pre-approved for an FHA mortgage loan but don't meet the income requirements for the AmeriDream program, keep looking. There are several down payment assistance programs with no income requirements or restrictions.

Down payment assistance programs generally require the seller to pay a fee to participate. This fee is considered a payment for services rendered and not a tax-deductible charitable contribution.

For more information on how the grant program can be beneficial to you, you must be a qualified home buyer under the fha home loan program. We recommend that you first get pre-approved for an FHA home loan and then your lender will assist with getting you educated on the down payment program that is right for you.

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FHA Down Payment Grants -- AmeriDream Program

FHA Down Payment Grants
-- AmeriDream Program