|
Documents needed for an FHA Mortage |
|
|
|
|
Written by Tamara Schmitt
|
|
Monday, 07 November 2005 |
It is important to understand that the loan approval is 100% dependent on the documentation you provide. To insure a smooth transaction, it is crucial that you have all your documentation in order before the initial application of the loan.
|
|
Last Updated ( Tuesday, 22 August 2006 )
|
|
Read more...
|
|
|
Written by Tamara Schmitt
|
|
Monday, 07 November 2005 |
Generally a bankruptcy will not preclude a borrower from obtaining an FHA loan. Ideally, a borrower should have re-established a minimum of two credit accounts (such as a credit card, car loan, etc.) and wait 2 years since the discharge of a Chapter 7 bankruptcy or have a minimum of 1 year of repayment with a Chapter 13 (the borrower must also seek permission of the courts to allow this).
|
|
Last Updated ( Wednesday, 23 August 2006 )
|
|
Read more...
|
|
|
FHA Mortgage vs Conventional Home Mortgage |
|
|
|
|
Written by Tamara Schmitt
|
|
Monday, 07 November 2005 |
The main advantage of FHA home loans is that the credit qualifying criteria for a borrower are not as strict as conventional financing. FHA will allow the borrower who has had a few "credit problems" or those without a credit history to buy a home.
|
|
Last Updated ( Tuesday, 22 August 2006 )
|
|
Read more...
|
|
|
Written by Tamara Schmitt
|
|
Monday, 07 November 2005 |
The Federal Housing Administration (FHA) was established in 1934 to improve housing standards and conditions and to provide an adequate home financing system through insurance of mortgages. Families that would otherwise be excluded from the housing market were finally able to buy the homes of their dreams.
|
|
Last Updated ( Tuesday, 22 August 2006 )
|
|
Read more...
|
|
|
© CopyRights - GetLoansCheap.com - All Rights Reserved - All Content - Legal Disclaimer / Privacy Policy / Get Loans Cheap