FHA insured loans are a popular choice among first time home buyers

FHA insured loans are a popular choice among first time home buyers who are taking advantage of the low house prices and first time home buyer tax credit being offered. According to a recent FHA report; "In the second quarter of 2009, nearly 50 percent of all first-time buyers in the entire housing market used FHA-insured loans."

FHA offers an affordable way for buyers to obtain a home loan. When I practiced real estate up north, FHA financing was a fairly common source for mortgages. Some of the benefits to a Florida home buyer using an FHA insured loan include:

• Approximately 97% financing
• The loan is subject to appraisal
• The home must meet minimum property conditions

It is easy to apply for an FHA loan. Watson Mortgage handles FHA loans and offers the buyer free consultation to determine if FHA is the right program for you.

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