Do Not Give Up On The Dream Of Owning A Home!!!
We all know the stories about banks not lending and if they do, about only the most pristine buyers qualifying.
There Is Still A Way: Through FHA or Federal Housing Authority loans. These loans are made by a bank but insured by the FHA with terms that are much more affordable and with much lower minimum credit score requirements.
Consider:
The FHA is fairly lenient with credit (even below FICO 600), though requirements may vary by state. You can apply even if you have no credit history if you can prove that you have met past financial obligations.
Loan amount limitations vary state by state, but those limits have recently been raised.
Down payment requirements can be less that 5% of the purchase price.
When your bank says no, FHA may say yes.
Michael Haltman, President
Exeter Commercial LLC
FHA Lending Group
131 Jericho Turnpike, Suite 202
Jericho, New York 11753
516.338.7503(O)
516.741.6838 (F)
haltman@easycommercial.com
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