About FHA Loans
GTE Financial offers loans insured by the Federal Housing Administration.
When you are deciding which loan is best for you, there is a lot to consider. If you are looking to finance a primary residence, FHA is a great option to look into as these loans are designed to make homeownership more attainable and are often great products for first time home buyers or buyers that do not have a large sum saved for a down payment.
When considering all costs, buyers that finance with an FHA Loan will need to pay what’s termed an Upfront Mortgage Insurance Premium (UFMIP) as well as a monthly Mortgage Insurance Premium (MIP) which is wrapped into the monthly loan payment.