Southwest Michigan Realtor

By Michael Delaware, REALTOR®

Michigan FHA Loans


Michigan FHA loans in Battle Creek are designed for the first time home buyer.  If you have ever thought about buying and owning your own home in Battle Creek, the FHA loan is a good program to consider. 

FHA loans can be a good choice for a first time home buyer as it offers low interest rates.

What is an FHA loan?  FHA stands for Federal Housing Authority, which is a branch of the Department of Housing and Urban Development.  So an FHA loan is a government loan program. 

Michigan FHA loans are adapted from this program for Michigan.  Some of the requirements Michigan FHA loans have for an individual is that they must have income, a decent credit score (620 or above) and they must pay a down payment of 3 ½ % of the purchase price of the home. 

The loan must have private mortgage insurance (PMI) which insures the lender from default on the loan by the borrower.  A home has to meet certain standards as well for Michigan FHA loans

The home cannot have a roof that is determined by an appraiser or roof inspector to have

Michigan FHA Loans might be the best programs for you if you qualify.

 less than 2 years life remaining on it, and this not only includes the primary home structure, but any additional building on the property as well, including garages, pole barns and the like.  For the first time home buyer, Michigan FHA loans may seem complicated, but if one works with a knowledgeable lender who is experienced with the program, it can be very easy. 

The best way to find out who in Battle Creek has a good success record with the program is to consult an experienced local Realtor who knows not only the housing market, but has closed a lot of homes with buyers using Michigan FHA loans.  I have been selling homes in the area for several years, and have many homeowners use Michigan FHA loans as their loan program. 

For more information on how to get started, contact me at my website at: or call me directly at 269-441-8182. 

FHA loans require the buyer to pay 3 1/2 % of the purchase price as a down payment, but allows the seller to pay up to 6% for the closing costs if negotiated in the purchase contract.

Leave a Reply