FHA vs Sub-prime

Real Estate Agent with Real-a-Save

We're seeing many more Denver real estate shoppers using FHA programs as opposed to the ridiculous sub-prime deals.

It's also the VERY rare deal that sees 100% financing or the dreaded "Stated Income" programs that were so popular over the last 5 years.  I won't miss these programs at all.  The stated income programs have their place- I have many clients who work as consultants and so have "spotty", though lucrative employment histories.  These programs were perfect for such folks.  But the stated income programs were also abused by lenders and borrowers alike.  

Even though FHA requires more paperwork, they are a great alternative to the recent programs which brought the lending industry to it's knees.



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Katie Graham
Cherry Creek Properties, LLC - Denver, CO
Denver Real Estate
It's interesting that you won't miss the stated income programs, since many real estate brokers (myself included) use these programs to purchase their own homes. I have had many clients (consultants, computer programmers, doctors, lawyers, entrepreneurs, etc.) use these programs. I think it's a shame that they are more difficult to find and making it harder for individuals to purchase their homes.
Mar 25, 2008 01:47 AM #1
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