Whether you are an first time homebuyer or an investor, check out the new FHA guidelines for your area. The new limits are hot off the presses:
State One-Family Two-Family Three-Family Four-Family Last Revised
AKRON, OH OH $330,000 $422,450 $ 510,650 $634,600 3/05/20
What this means to you: FHA loans have a stigma of being difficult to obtain. These newer guidelines will allow today's buyers the opportunity for a competitive interest rate with smaller downpayments. The main advantage of a fha vs conventional loan is that the credit criteria for a borrower may not be as strict as a conventional loan. When deciding whether or not an FHA loan is right for you, understand that the FHA loan will generally have the least amount of money required to close and the lower payment. FHA loans will allow the borrower who may have had a few "credit problems" or those with a more limited a credit history to buy a home. For more information, visit http://www.fhainfo.com/index.asp
If you would like a referral to an FHA lender in your area, please email me at lornajustice@remax.net . For our current listings visit http://www.legacyhudson.net/
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