It's An FHA World Right Now - Bring On The FHA Mortgage Loans

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Education & Training

Yes it is true, it's an FHA World and a combination of FHA Mortgage Loans and the USDA Rural Home Loan will be the staple for some time.  USDA Rural is actually up 475% in Arizona over this time last year!

Businessweek states that a new accounting rule may require Freddie Mac and Fannie Mae to increase their capital by up to 75 BILLION which raises new talk about more behind the scenes tightening guidelines. 

Here's a few things that are making FHA mortgage loans even more attractive for buyers right now:

  • Not affected by declining markets and the inability to get private mortgage insurance
  • Still allows financing WITH a down payment gift so a buyer can get into a home with ZERO DOWN
  • Buyers with higher credit scores will soon get lower upfront Mortgage Insurance Premiums
  • Buyers with spotty credit can Tell Their Story, create a credit profile and still get approved

And this will be a very VERY popular FHA mortgage loan over the next 12-24 months and use this to nurture and attract First Time Home Buyers.

  • The FHA 203K Rehab Mortgage Loan can be used to buy a bank repo, fix it up and have instant equity.  And with limitations, it is available to investors.

Gotta love FHA!

Paul "FHA Man" Dunn
(520) 225-0380

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Rainmaker
76,374
Randall Schrader
Competitive Insurance of Dundee - Dundee, FL

You are correct!  FHA is the best game in town right now.  Can you explain what you know about investors receiving FHA loans?  I thought that was only re-fis.

Jul 08, 2008 03:32 AM #1
Rainmaker
61,229
Paul Dunn
Tucson, AZ
former orginator

Investors can use the FHA 203K Rehab loan to purchase bank owned 1-4 unit property.

Paul

Jul 08, 2008 03:39 AM #2
Rainer
34,945
Jacquie Cliff
Champions Real Estate Services - Lynnwood, WA - Lynnwood, WA
- Real Estate and Short Sale Expert
Too true!! FHA is back with a vengence. Considering that all the other programs have been eliminated.....there really isn't any choice.
Jul 08, 2008 03:43 AM #3
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Rainmaker
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Paul Dunn

former orginator
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