Federal Housing Administration loans are now available through OMB’s Residential Lending services. OMB was recently granted approval to immediately begin offering these popular government-backed mortgage loans that can provide a variety of advantages for homebuyers including more lenient credit requirements, lower down payments and decreased monthly payments. FHA loans are issued by financial institutions and insured by the federal government.
“OMB’s Residential Lending team is dedicated to meeting and exceeding the needs of our borrowers and our referral partners,” said Michael Frerking, director of residential lending. “With in-house processing and underwriting, we can now assist our borrowers from start to finish with all of OMB’s loan products and programs, including FHA loans now. Community means a lot to us at OMB, so we’re proud to say that decisions are made right here with us locally, in our bank and in the communities we serve.”