fha: Credit score fiasco!!!!! - 10/25/09 02:55 AM
FHA is tightening their lending requirements and very shortly raising down payments from 3.5 to 5 percent. Minimum FICO scores have gone from 580-620 and buyers are feeling the crunch. Credit card companies are lowering credit limits thus creating higher debt to limit ratios which in turn lowers FICO scores. Seems like a huge issue that interest rates and available balances can be controlled by credit score while a customer has an active account, and even if they pay on time. For example, a client with a 5k line of credit with a balance of 25oo is at a 50% debt … (6 comments)

fha: Buyers get a move on!!!!!!!!! - 10/25/09 02:42 AM
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fha: FHA increases limits to $346,250 - 02/25/09 01:46 PM
FHA has increased its mortgage financing limit to $346250 for the 28 counties surrounding the metro Atlanta are.  This represents an increase of approx. $25,000.  A 580 could do the trick.  Give me a call for a free pre approval.
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fha: FHA financing with a 580 score - 01/23/09 12:57 PM
Buyers in todays market are having a difficult time finding conventional financing with a low down payment.  FHA is becoming THE option for todays buyers who may have had credit issues in the past.  Buyers must contribute 3.5% towards their downpayment, but that can come from family.  FHA is not credit driven, but buyers have to prove that they can make payments.  Buyers can recieve up to 6% in closing costs, and close within 45 days.  If I can be of any further assistance, call me at 4048432500.
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Joseph Griffin MBA, CBB, CCB

Digging for Real Estate Gold in Atlanta Today!!!

Conyers, GA

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Keller Williams Atlanta Metro East

Address: 2304 Benji Blvd, Conyers, GA, 30013

Office: (678) 487-1600

Mobile: (770) 827-7251

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