A few nice chateau images I found:
Château de Fléville (France – Lorraine – 54)
Image by michellefouineur
Château et vue sur le parc.
Much more great houses click here…
Photo Release — Community Banks Award K to Assist Little Rock …
Representatives from First Security Bank, dosage Simmons First National Bank, Summit Bank, and the Federal Home Loan Bank of Dallas presented $ 24,000 in Partnership Grant Program (PGP) funds to the University District Development Corporation during a …
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Federal Housing Programs Fail To Place Minority And Low-Income Families …
"Federal housing assistance programs should expose our nation's most vulnerable children to the best available educational opportunities." The U.S. Department of Housing and Urban Development (HUD) currently spends about $ 18 billion annually on …
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Question by crazygal84: does a first time home buyer need to get an FHA loan or can they get a 30 yr fixed?
thanks. that clarifies things a little. just another question though, more about we are looking at the 30 yr fixed rates available at our credit union with the option to purchase 2 points for the lowest rates possible – is this option only available for people with 20% down payment?
Best answer:
Answer by Worldly25
You seek out the mortgage lender that will give you the lowest rate on a fixed mortgage.
Add your own answer in the comments!
You’re mixing apples and oranges.
An FHA loan only means it’s guaranteed; FHA doesn’t issue it. In fact, many/most “FHA” loans are 30 year fixed loans.
So: A first time home buyer does not need to get an FHA loan. If you qualify, you certainly can get any type of loan you want. Some states and localities have special programs for first-time buyers; look into those, too.
A first time home buyer can get a 30 year fixed, a 15 year fixed, an adjustable rate mortgage, whatever. Just depends on what you qualify for.
An FHA loan does have some advantages. The main one, for many people, is the small down payment (3.5%) required, as compared with the 10%-20% that the lenders might otherwise charge.
Check with a good mortgage broker for more information.
Hope that helps.
FHA loans are generally fixed rate loans. FHA loans are just insured by FHA – FHA is not the actual lender.
Most FHA loans are thirty year fixed loans. They are often what are called FHA 203 b. They have very low downpayment and have easier qualification process.
A conventional loan usually has a higher down payment and a little tougher qualifying terms.
Both types of loans offer 30 year fixed and both types offer adjustable rate loans. I am not aware of FHA offering balloon notes like you could get from conventional some time back.