Changes in FHA loan guidelines have created exciting new opportunities for buyers who may have been waiting for the right time to buy. Program features include:
- Loan amounts up to $729,750 (through December 31, 2009)
- Down payments as low as 3.5%
- Gift funds allowed
- Flexible qualifying guidelines
- Fixed and adjustable-rate loans
- Competitive rates
In addition, many first mortgages used for home purchase and home equity loans can include an optional loan protection feature called Borrowers Protection Plan. This feature can help borrowers protect their most valuable asset from sudden income losses that can result from involuntary unemployment, disability, hospitalization and loss of life.
In addition, the $8000 tax credit puts extra cash in hand for qualifying purchasers. Want more information? Feel free to contact us.