Wednesday, November 12, 2008

The "New" FHA

If you haven't dusted off your understanding of the FHA loan program now is the time to do so. There have been many changes made to the FHA Loan Program designed to modernize the loan for today's real estate environment -- Streamlined Processing, Reformed Appraisal Requirements and Standardized Automated Underwriting to name a few. These improvements coupled with the current challenges in our economy heighten the importance of educating potential home-buyers about the benefits of FHA Financing.

Did you know…

  • FHA Loans only require a 3% Investment
  • FHA Loans allow for Gift Funds
  • FHA Loans still allow the Seller to contribute up to 6% of the purchase price
  • FHA Loans offer the most Flexible Credit Standards and No Income Limits
  • FHA Loans have an Assumption Feature
  • The FHA Loan Limit in Franklin and surrounding Counties is $341,250.00.

Whether you are looking to purchase your first home or fourth home, FHA Financing makes your goals easier to reach.


Source: Brian Snyder, Wells Fargo

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