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.

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One response to “FHA Mortgage 411 Information

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

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