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FHA loans typically offer options for first-time home buyers, senior citizens and home improvements.  One of the most difficult elements of the home buying process is saving up enough money for a down payment.  If you are a first-time home buyer, an FHA loan may allow you to make a down payment of 3.5%.  You may also be able to roll your closing costs and other fees into the loan amount.

Because FHA loans are insured, lenders can and do offer FHA loans at attractive interest rates and with more flexible qualification criteria.  Many lenders can overlay their own requirements on top of the FHA guidelines.  This makes FHA loans attractive for those with less than perfect credit.  “We can look at the picture more closely,” adds Troy Trombetta of Affiliated Mortgage.  “We don’t rely solely upon a credit score.  Many borrowers elect a down payment of just 3.5% of the purchase price of the loan, which makes lending possible to a wider variety of applicants.”


If you are interested in a home that requires some improvements, there is an FHA loan to address your needs.  An FHA we will check your creditworthiness and if you meet FHA standards, you will be approved for a loan that covers the cost of the property, plus home improvement costs and closing costs.  You may also be able to get an FHA loan if you already own a home that needs some repairs and improvements.  The loan will cover refinancing costs as well as the costs of making the necessary improvements.

If you are interested in getting an FHA loan, contact one of our knowledgeable FHA lenders today.



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Based in Rapid City, South Dakota, Affiliated Mortgage is the regions home loan and mortgage refinance leader. Learn about common loan programs by selecting a topic below.


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Copyright 2018 Affiliated Mortgage Company, A Division of Lendsmart Mortgage, LLC. NMLS #4474

Troy Trombetta, Branch Manager - NMLS #14211 - SD lic # MLO.00124 2920

West Main Street Suite 2, Rapid City, SD 57702 — Telephone: 605-718-9820