subject: Fha Loans For Orange County Homes - The Dream Combination [print this page] What would you say if someone told you that there is now a program that guarantees up to a large extent that every prospective homeowner can get a loan? Absurd, strange, unbelievable, many might also think of such claims to be fake promises from fraudulent agencies that claim to be genuine ones but in the end are discovered to be otherwise, but what if the government itself gives you such a promise that you too can own a home in gorgeous areas like Orange County. An FHA loan is one such instrument that is here to help those desiring their own home but searching for the perfect finance solution.
Due to the recent recession, there were many lenders that had tightened their guidelines for prospective homeseekers due to obvious reasons. This has had a significant impact on good and high-ranked areas like Orange County. FHA loans were thus introduced to allow leading lenders to relax their terms and conditions for giving out loans. The main advantage of these loans is that the lender is assured of the fact that his money is going to be risk free even in the case of the loan-seeker defaulting by showing bankruptcy or any similar situation arising wherein the formers assets are at stake. This is a government backed assurance, and is completely trustworthy. This helps the lender in relaxing guidelines for giving out loans.
If one goes to the grass root level, there is always demand for owning homes in good localities where there are pleasant surroundings, good supply of electricity and water, etc., and the top-most ranking place in this list is Orange County. FHA loans, as a matter of fact, have helped many to realize their dreams of owning a home in this and many similar localities. Further advantages include government incentives in the form of potential tax credits for those who have not purchased a home in three years, and loan amounts up to $729,750 that require as little as 3.50% of the purchase price down!! These benefits combined with historically low interest rates and falling home prices, now is an opportune time to take advantage of the perfect storm for increasing wealth through real estate. Hence, it can easily be said that FHA loan in Orange county like locations is a blessing in disguise for thousands of homeowners.
by: Brian Rich
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