Yes, I am a screaming fan of FHA and VA loans!
This past year, pre-qualifying your buyer has become even more difficult. What I can't quite understand is why realtor's are not offering the opportunity for their clients to pre-qualify for FHA loans? Are they still under the impression the FHA guidelines are strict? Possibly. Perhaps its because their loan officers are not licensed to process FHA loans? And the buzzer rings!
As we all know, one of the biggest strategies of the game is having the proper tools, or programs available to your client. These government-backed loans benefit your client!. My favorite highlights are sellers concession up to 6% of the sales price, allowing gift funds, obtaining "A" credit interest rates even if you're not an "A" borrower, flexible qualifying ratios and underwriting guidelines. Did I mention no pre-payment penalty and the Mortgage Insurance is tax deductible as of 1/01/07? Did you know that if your buyer is looking for a lower monthly payment, FHA is the way to go? Did you know they allow non-occupying co-borrowers on the loan? Well, now you do!
Comments (6)Subscribe to CommentsComment