Quality Mailing List Data for Your FHA Mortgage Mailing Campaign
Mortgage marketers can generate great leads for FHA loans with our FHA Mailing Lists.
Our FHA data is compiled from filings at the Tax Assessor and County Clerk’ offices. It is accurate and updated on a continuous basis. In most of the country, the mortgage file is updated on a weekly basis. Because of this, you can certain your data is fresh and of the highest quality.
According to Investopia, an FHA loan is a mortgage issued by an FHA-approved lender. It is insured by the Federal Housing Administration (FHA). An FHA mortgage is designed for low-to-moderate income borrowers. The loans require a lower minimum down payments and credit scores than many conventional loans
FHA Loans in 2019
As of 2019, you can borrow up to 96.5% of the value of a home with an FHA loan. This means you’ll need to make a down payment of only 3.5%. You’ll need a credit score of at least 580 to qualify. If your credit score falls between 500 and 579, you can still get an FHA loan provided you can make a 10% down payment. With FHA loans, your down payment can come from your savings. A financial gift from a family member or a grant for down-payment assistance can also be used.
All these factors make FHA loans popular with first-time homebuyers.
How FHA Loans Work
It’s important that you understand that the Federal Housing Administration doesn’t actually lend you money for a mortgage. Instead, you get a loan from an FHA-approved lender, like a bank, and the FHA guarantees the loan. You pay for that guarantee through mortgage insurance premium payments to the FHA. Your lender bears less risk because the FHA will pay a claim to the lender if you default on the loan.