If you want to make more money in this tight market, look into the programs I am discussing below.
FHA is now the best loan out there for the average buyer because they have recently changed many of their ways of doing business. They have greatly relaxed their appraisal requirements and their rates are some of the best out there. Also, they have 580 credit score allowance and a down payment requirement of only 3%, however, they will combine community grant programs and/or state funds for First Time Home Buyers to cover the down payment and also the closing costs, making it possible for many people to get a good loan and actually get into a home of their own.
Check with your local lenders to see which ones are now doing FHA Loans and which ones are also with the State First Time Home Buyers Program in your state. This combination creates so much flexibility and makes home-buying easier, faster, and possible for many more people.
These loans are based on low credit scores 580 and up, family size and income, as well as special targeted areas in your state.
If you want more information respond to my blog, or email me directly
judyshomes2004@yahoo.com
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