FHA Home Loan

FHA Home Loan

The FHA loan is a government loan that has more underwriting flexibility to allow homeowners with past credit issues, low credit scores and limited assets to obtain a loan with favorable rates!

More Specifics:

  • Down payment
    • Minimum down 3.5%/May be your own funds including 401k loan/May be a gift from an acceptable source, ie close relation, employer gift
  • Occupancy, Term and Property Type
    • Owner Occupied/Fixed and ARMs available
    • Up to 4 units/Single family/Condo/Townhome/patio home
  • Seller Contribution
    • Max 6%
  • Transaction types
    • Purchase/Refinance – Cash-out and Rate/Term for interest rate improvement (min 640 score for refi)/Streamline refi on for current FHA loan holders
  • Credit history (in some cases, extenuating circumstances may apply for shorter wait periods)
    • Bankruptcy – after 2 years from Discharge (ch 7)
    • Foreclosure/Deed in Lieu – after 3 years from Trustee Sale
    • Short Sale – Eligible after 3 years of title transfer
  • Mortgage Insurance is required on all loans

 

Fear Itself Speech essay custom service click through the following www place | Advanced Trading Tools · Learn How to Trade 二 元 期权. 二元期权_百度百科 click here now
visit their there essay writing service