FHA loans

Like many we associate fha with low quality buyers. It looks like that has changed and a source of lending with less restrictions than many of us are used to. I am going to spend some time this week looking into getting more educated on these loans. I cut and pasted this from a local lender in Cincinnati ohio.

New FHA limits have been announced, the new limit for the greater Cincinnati MSA has risen too $337500.00, an increase of over $80,000.

 

This would be a great time to go back to the those buyers that need FHA but could not purchase because of the loan limits.

 

Remember FHA has eased their appraisal requirements, still only require a 3% contribution from the buyer and that can come from various sources, including gifts.

 

With tighter credit on conforming loans FHA may be your alternative, and please remember, there are still 100% programs available, they just now require better credit.