HUD / FHA Underwriting Guideline Highligts
- Down Payments as low as 3.5% with ficos as low as 620 on 1-4 unit Properties
- Gifted Funds allowed for Down Payment
- Loan amounts up to $729k (for rest of 2009 fiscal year)
- Higher loan amounts for 2-4 units
- Alternative Credit allowed
- Non-Occupant co-borrowers allowed
- Underwriting deciscion times same or comparable to Conventional Loans
- FHA no longer requires sellers to pay certain costs. Unlike 10-15 years ago buyers don't have to worry about being shunned by sellers or listing agents because they are getting FHA Financing.
- With the recent tightening of the conventional credit markets and the dissappearance of the secondary mortgage markets FHA loan programs offer the most aggressive underwriting guidelines currently available in the 1-4 unit Residential Financing Market.
- FHA Loans are assumable
- Many more benefits...
click here to view Jacmel Holdings DBA IET Capital's HUD approval letter
FHA Guidelines Handbook 4155.1
HUD's information website related to FHA loans
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