FHA loans are still avaliable to those with low down payments and bumps on your credit!
Posted by on Monday, December 29th, 2008 at 2:10pm.-The new minimum out of pocket for buyers will be 3.5% of the sales price in the form of down-payment. This can still be in the form of a gift from a family member!
-Closing costs can still be paid by the seller up to 6% of the sales price.
-Currently we can write FHA loans that receive an automated approval down to a 550 middle credit score. For those customers that need "Manual Underwriting" a 580 middle credit score for all borrower's is required.
-If your scores are not high enough now, don't worry we have an excelent credit repair program click here for details. It's even free when you buy with NHS Realty and close your loan with Southwest Funding!
-The current rate for fully approved FHA buyers is under 6%! That's right rates are still under 6%
Give us a call today and get started.
Click here for real time rate quotes and closing cost estimates in less than 5 seconds!
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