FHA Home Loans are quickly becoming the best First Time Home Buyer Home Loan program available. FHA Mortgages offer low Mortgage Rates for home purchase or refinance. First Time Home Buyers can also take advantage of the $8000 First Time Home Buyer Tax Credit currently offered for anyone who hasn't owned a home for the past 3 years. If you currently have an FHA Home Loan, you can take advantage of the fast and easy FHA Streamline Refinance Loan to lower your payment today.

FHA Pre-Qualification

3.5% DOWN NOW REQUIRED

JANUARY, 2009

As of Jan 1st, FHA now requires a home buyer to bring a 3.5% down payment to closing. This is up from the 3% down payment requirement that has been in place for many years.

If you are refinancing your home, streamline (FHA to FHA refinancing) or not, you will be capped at 96.5% of the appraised value of your home, 95% if you are pulling cash out.

January 31, 2009 4:14

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FHA QUALIFICATION BECOMING MORE DIFFICULT

OCTOBER, 2008

The FHA home loan program has been one of the bright spots int he lending world, helping homeowners and first time home buyers with less-than-stellar credit qualify to buy a home. That is still the case today, but llike all other mortgage programs, FHA guidelines are tightening up.

Currently, you will need a minimum credit score of 580 to qualify for an FHA mortgage. You can also have only minor derogatory credit over the ...

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October 08, 2008 8:24

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THE HOME LOAN PROCESS

AUGUST, 2008

I had an email from a first time homebuyer this morning who is out looking for homes, and is confused about the process. "How does it work- where do we actually close? When do we actually own the house? What is done in-between?"

Your first time buying a home can be confusing and intimidating. After I got this email, I thought this would be a good blog topic for today.

Here is a ...

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August 12, 2008 10:31

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