FHA Loans Redding, CA
If you’re a first-time home buyer, then the FHA loan is a great opportunity for you.
Call Redding Megastar, and we’ll figure out your options together.
A Few of the Benefits
If you’re looking to invest in real estate, good options are available for financing. Megastar Financial is a very good choice for an investment loan, as we know the market locally and are willing to help customers invest.
Watch the Video Below to See if an FHA Loan is Right For You.
A Few of the Pros and Cons of FHA Loans in Redding, CA
The Two Parts to Mortgage Insurance:
Monthly Mortgage Insurance
This is a monthly charge and is calculated by multiplying the loan amount by .9% and then dividing by 12 months.
Example: $200,000 x .9% = $1,800 / 12 months = $150/month
Mortgage Insurance Premium (Requirement from the government)
This is a one-time charge that gets financed on top of the loan amount and is calculated by multiplying the loan amount by 1%.
Example: $200,000 x 1% = $2,000.
So the total loan amount after the MIP is financed is $202,000.
Megastar Financial is the provider of FHA loans Redding, CA home buyers trust. Our experts are ready to sit down with first time home buyers and help them find the right FHA loan.