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The real estate market has come a long way since the housing crisis of nearly a decade ago. Since its turnaround, it’s hardly looked back.

The strength of the market is also showing in the Federal Housing Administration (FHA) insurance fund, which is in its best shape since 2007, according to U.S. Department of Housing and Urban Development.

For the fifth consecutive year, the fund’s capital ratio has exceeded the threshold required by Congress. The ratio estimates the fund’s worth and ability to cover claims.

Many insured mortgages are FHA loans. These continue to help pad the overall fund. Meanwhile, Home Equity Conversion Mortgages strained the fund in 2019, but not as much as previous years.

If you live in Fort Collins, and you’re thinking about purchasing a home and want simplicity and flexibility, you might want to consider an FHA loan. That is because FHA loans are backed by the federal government, so approved lenders set forth more lenient qualifying guidelines, which is ideal for first-time buyers and those with less-than-ideal credit scores.

They are also less burdensome. When you decide to finance the purchase of a home through an FHA, you can worry less about supplying a large down payment.

Also, keep in mind that an FHA loan is not just for first-time homebuyers. You can also refinance with an FHA loan, even if you’re currently paying a conventional loan.

Please contact us today to learn more about how you may be able to maximize your purchasing powering through an FHA loan.

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