There are 1 blog entries for February 2009.
Friday, February 20th, 2009 at 10:03am. 444 Views, 0 Comments.
The following blog entry is courtesy of a highly knowledgeable mortgage broker Tara Ryan. Feel free to contact Tara if you have any more questions or are looking to obtain a loan for your new home.
FHA is back in vogue today with the extreme tightening of underwriting guidelines for conventional financing. FHA is much more liberal on credit score restrictions and generally provides a much lower monthly payment for those borrowers who are below a 700 middle credit score. Additionally, FHA provides a number of features which are simply not available on conventional loans such as allowing borrowers with a fairly recent bankruptcy to obtain financing as well as to allow a non-occupant co-borrower to be added to the loan.
Today, the area where FHA…