First Time Buyers as well as Repeat Buyers - FHA has raised the loan limits on a single family home to $400,000 in Mesquite NV and all of Clark County.  The average single family home in Mesquite NV sells for around $300,000.

The FHA guidelines are less stringent than a regular conventional loan - approval is not credit score driven - a buyer with a credit score of 620 or even lower may be able to qualify for an FHA approved home loan with as little as 3% down and no interest rate penalty for the lower credit score.

FHA is more concerned with your last 12 months credit and ability to pay the payments on your loan.  They look at the overall picture, rather than just a credit score. 

The Federal Housing Administration originally set up the loan programs so that a first time buyer would be able to qualify and buy a home.  The FHA home loan is becoming popular again, and offers payments that may be lower than those of a conventional home loan for buyers with a credit score of less than 680.

For more information about FHA loan programs and comparison to conventional loans, visit the website of Jeff Belonger -  The FHA EXPERT

Do you qualify for a FHA Loan?  For a quick answer visit Kathy Hadden @Wells Fargo Bank Mesquite NV

Or call me for an appointment to get pre-qualified with an FHA approved lender

Let's look at homes in your price and payment range!

 

Virginia Hepp
ERA Brokers Consolidated
Mesquite NV Real Estate
Mesquite Chamber of Commerce Member
702 622-1177
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Mesquite NV  FHA Loan  First Time Buyer  Repeat Buyer  FHA max loan limit  Single Family Home Loan

 

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6 Comments on First Time Buyers & Repeat Buyers - FHA loan limits raised to $400,000 in Mesquite Nv

MAY
05
2008
365,998 Points 17 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master
And since appraisals on FHA loans are now done with the same guidelines as conventional, it is a plus for someone who wants to sell their home.
5:48pm • #1
MAY
08
2008
434,022 Points 32 Featured Posts Outside Blog
FHA programs can be great. I have used them for several deals here lately and I'm sure there are more to come.
11:09am • #2
365,998 Points 17 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master
JL - Yes, they have always been around, but getting very popular again.  An excellent loan for a first time buyer with less than perfect credit and not too much money.
12:15pm • #3
MAY
09
2008
251,212 Points Outside Blog
Vigginia, thats great news, any thing helps at this point.
1:17am • #4
365,998 Points 17 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master
Duane, thank you, this buyer friendly financing will help to sell a home.
9:43am • #5
MAY
12
2008
365,998 Points 17 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Hi Andrew - Rather than give a bunch of generic loan info on a post, I prefer make an appointment for a buyer with a good lender to pre qualify for a loan.  It is great news that FHA has raised the loan max for single family homes to $400,000 in Mesquite!
2:04pm • #6

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