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Rick Crozier's Blog

By Rick Crozier | Mortgage Broker
or Lender in New Orleans, LA

FHA to Lead the Way

With credit score requirements increasing to 660 and mortgage insurance companies pulling out of the market we see FHA loans as a major funding source over the next 24 months.  Borrowers only need 3.5% down and credit scores can be as low as 620.

FHA also has a renovation and new construction product that makes it easy to finance renovations into the home purchase price.  Its a one-time close renovation loan so the rate is locked and u only close once.

Comments

By Voices Member,  Wed Aug 26 2009, 08:49
isnt FHA increasing to 660 as well?

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