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How to Qualify For a FHA Home Loan
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Current home owners needing to refinance and first time home buyers can qualify for a FHA home loan quite easily if certain requirements are met. Although FHA generally looks at the overall credit profile and not just credit score there are still some basic requirements a borrower has to meet. One of the most important is the mortgage has to have been paid on time for the last 12 months.To qualify for a FHA home loan, the property must pass certain FHA inspections.
FHA loans also allow for a non-occupant co-borrower to help you qualify for a loan. You can qualify using the co-signer's income if your income is hard to document.
Borrowers who do not qualify for FHA mortgages financing may be qualified for other programs which offer similar benefits to FHA loan programs. For more information, contact a financing advisor at or via email at
FHA loans can qualify a borrower with little or no credit history as well by using alternative credit. This can be done by supplying 4 types of monthly bills paid on time for one year. Examples of alternative credit include: rental history, electric bill, cable bill, cell phone bill, or any other type of account that is paid monthly.
How To Qualify For A Fha Home Loan in the News:
| Parents Run Risks Helping Kids Buy A Home (Investor's Business Daily via Yahoo! News) |
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The end of the federal tax credit for homebuyers is fast approaching. That means crunch time for parents who want to help their kids buy a place as inexpensively as possible.
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| Parents Run Risks Helping Kids Buy A Home (Investor's Business Daily, Inc. via Yahoo! Finance) |
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The end of the federal tax credit for homebuyers is fast approaching. That means crunch time for parents who want to help their kids buy a place as inexpensively as possible. First-timers comprised 47% of all buyers last year, according to the National Association of Realtors.
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| How to Pick the Right Financing When Buying a Rochester Real Estate Property (Turks.US) |
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As you may know, financing is an important part of buying a home, including a Rochester real estate property. If you want to know just how to purchase the home, you need to first determine the method of financing you need.
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| Going, Going, Almost Gone (Cincinnati CityBeat) |
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The deadline to receive home buying tax credits is fast approaching, but more people qualify than you might think Previously I only felt bombarded by car commercials. Now I feel inundated by real estate newspaper ads, billboards and even bus stop waiting benches telling me I have to sign up for the home buying tax credit before it’s too late.
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| McAllen's real estate market still sluggish (The Monitor) |
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McALLEN — Buying a house in the Rio Grande Valley will be much harder by this summer — and it’s not easy now. Buyers have until April 30 to sign a contract to qualify for the homebuyer tax credit, up to $8,000 for first-time buyers and up to...
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