TIME TO BUY!

By Deborah Ball, RE/MAX Times Online Associate Editor

Low home prices. Historic interest rates. Tax credits. Stimulus packages. Bailouts. There's a lot of chatter about how these factors affect the real estate market, but not enough talk about a no-brainer financing option, according to one RE/MAX veteran.

FHA financing seems to be a neglected talking point on the national media stage, says Fred Doleac, Broker/Owner of RE/MAX Country Properties in Amherst, N.H.

Doleac wonders why more industry leaders and real estate agents aren't taking the opportunity to explain the attainability of FHA loans. The loans, which require only a 3.5 percent downpayment and a decent (but not necessarily excellent) credit score, are ideal for qualified, first-time homebuyers who have low or manageable debt-to-income ratios but may not have tons of cash for a conventional-loan down payment.

"All you hear in the news are naysayers telling consumers they won't be approved for a mortgage unless they put 20 percent down and have perfect credit," Doleac says. "But that's simply not true. Unfortunately, the popular perception is that money isn't available and you can't get it right now if you don't meet these astronomical requirements. That's why so many people aren't budging right now."