Federal Housing Administration loans can be a very good deal for home buyers, especially those who don’t have a lot of cash or whose credit rating isn’t stellar, experts say.
FHA loans now account for 20 percent of new mortgages, up from 3 percent in 2006. What’s more, the number of authorized FHA lenders has increased 500 percent in two years.
Other benefits of FHA loans include easy loan modifications for borrowers who fall behind, easy refinancing plans if rates decline, and low rates overall, which don’t rise if the borrower has a low credit score. There are no income restrictions on FHA loans, so even borrowers with good incomes may find them attractive.
FHA loans still require a pre-settlement inspection of the home, but the process isn’t nearly as arduous as it once was, says George Hanzimanolis, past president of the National Association of Mortgage Brokers.
Source: CNNMoney.com (04/01/2009)
Reintroducing FHA under 580!!! Just in, I received information from a mortgage officer on this program. If your credit score is 550-580 there is now a mortgage plan for you!
As per my mortgage officer :”Read the guides as they are different than the regular FHA guidelines. They need 5% of their own money seasoned for 60 days on 550-580. Renters must have 12 mos cancelled cks only – no vor accepted. Appraisal + enhanced field with 2 add’l comps or 2 appraisals. 150% paymemt shock – and 43% dti max. THERE ARE NO EXCEPTIONS TO ANY OF THESE REQUIREMENTS !!”
Send me an email (firstname.lastname@example.org) for more details and spreadsheet of requirements, eligibility information and guidelines.
To get prequalified contact:
Jayson Duff | Mortgage Banker
Real Estate Mortgage Network
Office: 770-373-5420 | Cell: 678-360-1969
Fax: 866-573-1644 | Email: email@example.com
For more information or to apply online please visit: www.jaysonduff.com
AREA West Realty Group, llc
Certified Short Sale and Foreclosure Specialist
- First time homebuyers’ Agent
- Listing Agent/Seller specialist (Investor, Relocation, Pre-Foreclosure,Estate Sale)
- Atlanta down payment assistance expertise
- FHA 203K renovation loan experienced
- Broker Price Opinions (BPOs)
Hello! Welcome to my blog. I hope you’ve found it to be helpful. If you are in the market to Buy or Sell a home within the South West Atlanta area, please feel free to give me a call.
I am a local West End resident and specialize in two of the best In Town neighborhoods of Atlanta; Historic West End & Westview. I’m not just saying that we are the best,I have found this to be true- I moved here from East Atlanta! If you are looking for homes reasonably priced, spacious, character filled and a TRUE sense of community within the city- we’re here for you!
For further information about each please view : www.westviewatlanta.com or www.atlantawestend.com contact any of the listed resources for neighborhood information as well as stats on crime, schools , shops. Unfortunately my time is limited to my clients so I am unable to provide any general insight to our community beyond what I list on my blog. However, after reviewing the above sites, and speaking with other residents, I’m sure you’ll come to agree these are great neighborhoods to relocate to and invest in. Also, both communities have leaders that will provide walking tours.
If you are interested in becoming a client- feel free to give me a call 404-414-3289 or email firstname.lastname@example.org to set a time for us to meet. I look forward to working with you!
Want to know more about me? “Google” me- see all that I do within my communities, I’m serious about the continued growth and redevelopment of these wonderful communities within Neighborhood Planning Unit-T (NPU-T)!
Skype ID: nia.knowles