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Limited cash available for a down payment on a new home purchase? The Federal Housing Administration can help!The FHA loan program has helped millions of Americans achieve the dream of homeownership. This Government insured mortgage offers easier qualifying guidelines with a lower down payment than most conforming loan programs. A cash investment of 3.5% is required of the borrower, however this can come in the form of a gift from a family member. This program allows for a seller contribution of up to 6% which can be used to pay closing costs and other prepaid items.
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