An FHA jumbo loan can be useful in high cost living areas where the typical loan limit is not enough. According to Rocket Mortgage, if you choose this loan, be prepared for more stringent requirements. You’ll need to ensure you have a year’s worth of cash, a better credit rating, and the ability to pay more at closing.

If you’re interested in owning a condo versus a traditional single-family home, an FHA condo loan may work for you. However, according to Forbes, only 6.5% of condo complexes are eligible for this loan, as it goes through a strict approval process. You can explore approved condominiums on the HUD website.

For those who want to lower their energy bills on their new digs, the energy-efficient FHA loan could be a good option. The Energy Star website states that a “home energy evaluation” must be performed on the potential home before the loan is approved.

A progressive payment mortgage and an increasing principal mortgage work on the idea that the borrower currently has a lower income, but will earn more money over the next few years. According to Bankrate, with a graduated payment mortgage, the borrower will start with lower payments, which can increase over time. However, the borrower may end up paying less than the interest payment each month, which will increase the loan amount. A growing stock mortgage will also increase each year, but without the possibility of negative amortization.

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