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Paul Dunn - Tucson's #1 FHA Mortgage Originator and USDA Rural Specialist

FHA Streamline Refinance hits a WHOPPING 5% - could get lower

WOW!

Did I say WOW!

The FHA Streamline Refinance has just hit an insane 5%. Truly an incredible rate. The FHA Streamline Refinance allows for a smooth application process. It doesn't require reverifying consumer credit, income or assets. And in most cases the FHA Streamline Refinance can be done without an appraisal.

To find out what the current FHA Streamline Refinance rate is, read the rest of the story at FHS Streamline Refinance and then be sure and fill out the info request form.

WOW!

Paul Dunn
Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Development Home Loans

USDA Rural Home Loan Qualifying And Repayment Income

USDA Rural Home Loan qualifying uses two different income types to determine qualification for the USDA Rural Home Loan. In the previous post we discussed Adjusted Household Income and in this post we will discuss what the USDA Rural Home Loan qualifies as Repayment Income.

The USDA considers Gross Income and Repayment Income as the same thing and is used in determining if you can afford the payment by looking at a DTI Ratio (debt to income).

Read the full story at: USDA Rural Home Loan Repayment Income includes:

Paul Dunn
Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Development Home Loans

USDA Rural Home Loan qualifying with Income Adjustments

The USDA does indeed set income limitations for qualifying for the USDA Rural Home Loan, but a little known fact is that most folks have “adjustments” to their income that will help them to qualify for the USDA Rural Development Home Loan.

The USDA will Review two types of income for qualifying for the USDA Rural Development Home Loan:

  1. Adjusted Household Income
  2. Repayment Income (Gross Earnings) What do the USDA Rural Development Home Loan guidelines consider as “Adjusted Household Income”? It is basically gross income MINUS any eligible deductions.

Here is a list of 7 eligible deductions for qualifying for a USDA Rural Development Home Loan.

Read the 7 deductsions at USDA Rural Home Loans

Paul Dunn
Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Development Home Loans

How to buy Tucson bank owned property with a streamlined FHA 203k

Tucson Loans and Tucson Mortgages are available for home buyers who have found the perfect Tucson Real Estate but, the home needs some work. Have you ever thought "I love this house, but...."?

The good news is that there is are little known Tucson Mortgages and Tucson Loans available from HUD that are not well publicized and can help you buy that slightly unsightly house. And turn it into your dream home. Best of all with just ONE Tucson Mortgage Loan. It's the FHA 203K Streamline.

Read more on the FHA 203K Streamline Loan for Arizona.

Paul Dunn
FHA Tucson Loans and Tucson Mortgages
Arizona USDA Rural Home Loans

USDA Rural Home Loan Credit Score Minimums

The USDA Rural Home Loan doesn't have a specific credit score requirement. However the majority of USDA Rural Home Loan investors do have a minimum of 620. In addition, if you have a credit score above 620 the USDA Rural Home Loan will be a little less stringent on you in regards to past credit issues.

To read about USDA Rural Home Loan credit score requirements, go to http://usdaruralhomeloans.com

Apply for a USDA Rural Home Loan now!

Paul Dunn
FHA Tucson Loans and Tucson Mortgages
Arizona USDA Rural Home Loans