The FHA program is one of easier loan programs to qualify for and here’s some of the highlights of the FHA Home Loan Warrensburg, Missouri:
1. Down payment is only 3.5% of the purchase price
2. The down payment can also be gifted by a family member such as Parents, Grandparents, or a Sibling.
3. The credit scores are more relaxed….in some cases as low as 580. Generally speaking 620 or 640 is the norm.
4. If you’ve had a BK or Foreclosure in the past you don’t have to wait the typical 5-7 years for a conventional loan. With FHA you only have to wait 3 years after a foreclosure.
5. The loan limit for FHA here in the Midwest is $271,000
If you or anyone you know has any questions about the FHA Loan Warrensburg or Getting qualified please have them give us a call we've got a team of people who can help you find out just how much you can afford (by getting preapproved) and they are friendly as well! Feel free to watch the video below to meet our loan officer Darren.
If you'd like more information about us you can visit us on the web at www.kcloantips.com We're really looking forward to working with you!