When I was a kid Realtor, we had a terrible time getting sellers to consider offers that called for FHA of VA mortgages.  And I have to admit, there were valid reasons from the seller’s viewpoint.  FHA appraisers would come back with lengthy lists of repairs that the seller was required to complete prior to closing, and even the ones that went smoothly seemed to take twice as long to close as conventional transactions.   Even points often needed to be paid.

Fast forward to today’s market.  The times, they have changed, as FHA mortgages have become the mortgage of choice.  The primary attraction is the low down payment requirement (3.5%), which puts this financing within the reach of most buyers.  And what makes sense for buyers has become the best action in town for most sellers.

So, how much do you know about FHA financing?  Here’s a quick way to find out.  Take this QUIZ from the National Association of Realtors, click the “submit” button, and you will instantly be shown the correct answers.

How can we help you?  Danberry Co. professionals are ready to take your calls and answer your questions, as are the Home Mortgage Consultants from First Mortgage who can be found under the “Financing” button above.  We’d love to hear from you!