For the past several years, conventional loans were the way to purchase a house for many buyers; however, with the changes in lending practices we are seeing more FHA loans.  “Why?” you ask.  The answer lies in the benefits to this type of loan.

For instance, FHA loans are typically not credit-score driven meaning that borrowers can usually have a lower score than with other loan products and still qualify for a good rate.  Also, FHA loans require as little as a 3.5% down payment and they allow sellers to finance up to 6% of the buyer’s closing costs.

FHA loans allow for 22 ways for buyer to receive a contribution of funds including relative gifts and loans and they also typically allow non-occupying co-signers to co-sign on the mortgage.

Simply put, FHA loans are allowing for more people to become home owners or move to a larger home.

Looking for a good deal?  Take a look at our BEST BUYS!  Every time we spot a bargain, we post it on our website.  Just click on the photo of each home for more details and give us a call if you’d like to schedule an appointment to see any of them.

Wishing you sunshine everyday and the home of your dreams,
Jeri