The answer is YES! But in a different light! FHA is the best financing around for first time home buyers and though who do not have money to buy a home, but have proof of income, decent credit and the patience to find a deal in today's market.
FHA financing allows up to 6% seller concessions at closing and 3%+ gift funds. That means it is possible to receive 9%+ towards the purchase of a home, even in this tough market! It is important to find both, a Realtor and a Mortgage Broker who understand this program to make it work for you.
The Real Estate Firm Inc. specializes in programs like this to make your dream of owning a home come true. Have questions... ask away or call us toll free 1-866-473-3476.