The FHA loan program was created to help increase homeownership.

The FHA program makes buying a home easier and less expensive than other types of real estate mortgage home loan programs.

Some highlights of the FHA loan program are: • Minimal Down Payment and Closing Costs.
• Downpayment less than 3% of Sales Price
• Gift for downpayment and closing costs are allowed.
• No reserves are required.
• Seller can credit up to 6% of sales price towards buyers costs.

• Easier Credit Qualifying Guidelines: • No minimum FICO score or credit score requirments.
• FHA will allow a home purchase two years after a Bankruptcy.
• FHA will allow a home purchase three years after a Foreclosure.

• Easier Debt Ratio & Job Requirement Guidelines:
• Higher Debt Ratio's than other home loan programs.
• Less than two years on the job is allowed.
• Self-Employed individuals o.k.

These advantages of the FHA loan program has made it one of the best options for most first time home buyers as well as move-up home buyers.

Remember the $8000.00 FIRST TIME BUYER TAX CREDIT PROGRAM for 2009.

You do not have to be a first time buyer to obtain a FHA loan. Anyone may use a FHA loan as long as you do not have more than one FHA insured loan at any one time.

Contact me for additional FHA information, I work with many FHA approved lenders. Let’s get you qualified for a FHA loan today.