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Sub Prime Meltdow Opens The Door For FHA

By
Mortgage and Lending with American Home Mortgage

Welcome to my first ever blog!

Most everyone in the real estate industry is well aware of the meltdown in the sub-prime mortgage industry in the last 3 months.  With sub-prime guidelines changing daily, the FHA door has been re-opened.  With the help of down-payment assistance programs, FHA can still offer clients (sub-prime or conforming) a loan with 100% financing.  As we all know, 100% loan programs are still in high demand.

If you have been in the business for a few years, you probably remember the frustrations of FHA loans in the past.  Time have changed.  FHA loans (generally speaking) look, feel and act a lot like a conventional loan.  Appraisals are less stringent and guidelines have "relaxed" somewhat.

So don't be afraid to promote the FHA programs.  This loan should help you more than hurt you. 

Thanks to Chris Sevick Attorney at Law for referring me to this great resource. 

As always, if you have any questions or comments don't hesitate to contact me at 866-648-8231 ext 1010.

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Jacob Morales - Arizona Mortgage Planner
US Bank - Scottsdale, AZ
Great post and very true. I've been doing a lot more FHA loans in the past 3 months. I think this will become more and more common now too.
Apr 10, 2007 06:12 AM