FHA in Today's Market; Highlights of FHA loans

FHA IN TODAY'S MARKET

The total FHA-insured first mortgage is up to 100% of the appraised value of the property, and the up front mortgage insurance premium (UFMIP) is included within this limit.

FHA is a very versatile loan option in the market we are in today. Why?

There are no declining market issues - Have you heard about the declining market and how that affects how much you can borrow? It's okay with an FHA loan.

Lower FICO scores allowed - Some lenders allow down to a 580 score, dependent upon other factors in your credit and financial profile.

Seller concessions as high as 6% of the purchase price - This helps you with your closing costs!

No pest reports required

No cash reserves required except for 3-4 units

Funds for a downpayment can all be a gift - Gifts allowed from relatives, employers, or charitable organizations.

Cash in hand okay - Don't believe in putting your money in a bank or just don't have a bank account? That's okay!

30 year fixed rate mortgages

Adjustable rate mortgages

No prepayment penalty

Purchase or refinance of owner-occupied primary residences

Foreclosures, bank-owned properties, short sales, HUD homes are all ok!

U.S. Citizens, permanent, and non-permanent resident aliens

More leniency with bankruptcy and foreclosure - If you have one or both of these issues, let's discuss it.

Sellers are no longer required to do repairs

Get into a home and do your repairs or remodeling

First-time homebuyers okay!

No credit okay!

I AM HERE TO HELP YOU IN THE MOST ETHICAL, PROFESSIONAL, AND EFFICIENT MANNER.

I CARE ABOUT MY CLIENTS, AND I AM HERE FOR YOU TO ASSIST YOU WITH YOUR HOME PURCHASE OR YOUR HOME REFINANCING NEEDS.

CONTACT ME BY TELEPHONE AT 386-597-7063

OR BY EMAIL TO

KROBERTS@MYBESTMORTGAGESOURCE.COM.

I look forward to talking with you and assisting you!

It is suggested that you contact your attorney and/or your CPA or financial planner should you wish to discuss any tax or legal implications relative to your financial goals, the tax consequences of how you will hold title to your property, the tax deductibility of closing costs, points, and/or mortgage interest, and/or the legal and tax implications as to your purchase and/or sale of property or the refinancing of your mortgage.