In reality, the Federal Housing Authority (FHA) created the government guarnteed home loan back in 1934 with the idea of improving accessable and adequate home ownership. The byproduct was the FHA Mortgage Loan with qualifying characterists that happen to fit the income, credit and asset profile of the First Time Home Buyer.
Today FHA Mortgage Loans play a significant role in financing for:
- First Time Home Buyers
- Buyers with little or no money to put down
- Buyers with NO CREDIT HISTORY
- Buyers with a troubled credit history (Bad Credit Mortgage Loans)
In my business the best thing about FHA Lending is that we have the ability to have a real living underwriter make the loan approval and do not depend on a computer to determine if your buyer is deserving of a home loan.
Paul Dunn, Tucson's #1 FHA Loan Expert