Bethlehem Home Mortgage

Are You a First-Time Homebuyer in Bethlehem, PA?

As a first-time homebuyer, you have an exciting expedition ahead. Applying for your first mortgage loan and maneuvering through the intricate housing market can be daunting and frustrating. At Millennium Home Mortgage, we want your first home purchase in Bethlehem, PA, to be a rewarding experience. As your mortgage lender, we will do everything we can to advise you on the best home loan for you.

The Federal Housing Administration (FHA) loan program will allow you purchase a home under more flexible guidelines. An FHA mortgage is a government-backed home loan that offers more lenient lending requirements than many other conventional loans.

Am I eligible for an FHA Loan?

To be eligible for an FHA home mortgage, your monthly housing costs (property taxes, mortgage principal and interest, and insurance costs) along with your other consumer debt monthly payments must meet a specified percentage of your gross monthly earnings.

What are the Benefits of an FHA Home Loan?

Your credit history will be fairly considered because credit requirements are a less strict than with other loans. You do not necessarily have to have an outstanding or long credit history. In addition, you must be in a position to make a down payment and pay closing costs. FHA loans require at least a 3.5% down payment.   The seller pay may towards your closings costs "seller assist" up to six percent of the sales price.

FHA home loans have maximum mortgage limits that vary by state and county. As your mortgage lender, we can help you check the mortgage limits for Bethlehem, PA. Your potential home must be appraised by an FHA approved appraiser. The borrower must reside in the new home (single family, condo, or 1-4 unit multifamily dwelling) in order to be eligible for the loan.

Contact Millenium Home Mortgage for more help, information, and guidance through this entire process.