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.

OCTOBER 2008

STREAMLINE REFINANCE CHANGE

OCTOBER, 2008

An important change to the standards for an FHA streamline refinance has taken place. FHA streamlines do not require a full credit check, but your pay history on your mortgage is pulled. In the past, one 30 day mortgage late, and with some lenders, 2 lates were acceptable.

Starting this week, most lenders have gone to a policy where no mortgage late payments are allowed over the past 12 months. You must have a ...

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October 28, 2008 13:58

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FHA QUALIFICATION BECOMING MORE DIFFICULT

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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