Many mortgage companies are confident in providing FHA home loans because this type of loan is insured. Basically an insurance, the FHA will cover most of the potential losses of a mortgage company in case of default. This allows most borrowers to get pre-approved for a home loan quickly if the FHA is insuring the loan. Tennessee home mortgage companies like Churchill Mortgage offer this type of loan to first-time home buyers, especially to those with bad credit.
FHA Tennessee home loans are suitable for single and multi-family homes in the country. The loan limit may vary by state and depend greatly on the borrower's qualifications. In Tennessee alone, loan limit is different for each city, requiring each borrower to follow a distinct process for pre-approval.
http://tennessee.churchillmortgage.com/info-articles/fha-insured-tennessee-home-mortgage-remains-the-most-popular-home-loan/
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