Mortgage Lender Easton PA

Need a Mortgage Lender in Easton, PA?

The journey of buying a house is exciting for any first-time buyers.  To apply for your very first mortgage loan and learn the ins and outs of the intricate housing market can be very frustrating.  Here at Millennium Home Mortgage, we want to ensure that your first home purchase in Easton, PA is a rewarding experience. As your mortgage lender, we will do everything in our power to help you find the best loan for you.

The Federal Housing Administration (FHA) loan program will allow you to acquire 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.

What are the benefits of an FHA Home Loan?

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

Your credit history will be fairly considered, but with an FHA loan, credit requirements are less strict than with other loans. It is not necessary to have a long or outstanding credit history.  The ability to make a down payment and pay closing costs is a requirement. FHA loans require at least a 3.5% down payment. The seller may pay towards your closing costs. This is known as a “seller assist” and it can be up to six percent of the sales price.

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 or your gross monthly earnings.