FHA Mortgage 411 Information

Here is the main scoop and 411 on the ever popular government loan FHA

  • 3% Down Payment Investment (HUD will require 3.5% after January 1st 2009)
  • Closing costs can be paid by seller or lender through premium pricing
  • Seller Concessions up to 6%
  • Reserves not required
  • Gift Funds Allowed from Family and Friends
  • No prepayment penalty
  • Assumale to qualified borrowers
  • No minimum FICO requirement!!!  (Case by Case scenarios)
  • Citizenship is not required
  • Non-Occupying co-borrower allowed (aka kiddie condo loans)
  • No Doc & No Appraisal FHA stream line refinances
  • Strict Appraisal Conditions Removed (No more headache appraisals, come give FHA another chance)

The FHA program may very well be the best loan programs available today.


One response to “FHA Mortgage 411 Information

  1. This is great info. Isn’t the downpayment amount increasing soon??

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