1st Time Home Buyers are quickly realizing that there are very few days left in their opportunity to buy a home for the Christmas season and find up to $8000 under the tree from Uncle Sam. My personal countdown is at 29 days as it is my firm belief that 1st timers should have a home under contract by September 30, to allow enough time to close the sale by the November 30 deadline.
If you are concerned about your credit score being below the magical 620 minimum required by most lenders for an FHA Loan, I have good news! I have access to a lender that will consider scores below 620 if the borrower has compensating factors. CNN Money had a great article on how your credit score is calculated, as well as provided some excellent tips to improve your score.
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