FHA government home loans

In recent years, with housing costs continued to skyrocket, the FHA program has allowed for 100% financing. This is a new concept and no all lenders offer this type of government home loan. FHA government home loans also allow the borrower to wrap all closing costs into the mortgage. This amount would normally cost the borrower an additional $1200-$5000 in cash at closing. Closing costs are typically the responsibility of the buyer unless otherwise agreed upon. By allowing the closing costs to be wrapped into FHA funding, a low to moderate income family can actually realize their dream of owning a house.