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Home > Trulia Voices Home > Washington > King County > Seattle > Financing > Question
Trulia Voices—Seattle
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BEST ANSWER
In ERAHouston, our avg sales price is well within FHA limits. A lender who is expert in FHA manual underwriting can work wonders for a client who has been a good citizen for the past 12 months.
Sun May 4 2008, 19:59 Web Reference: http://www.ERAHouston.com
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FHA loans continue to be a great resource for buyers. In our current mortgage climate, how many loans will allow 3% down (that can be gifted by parents), 6% seller contribution, reduced monthly MI and mortgage interest rates are not credit score based (unless your under 600) like conventional products.
Sun May 4 2008, 19:08 Web Reference: http://www.mortgageporter.com
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It was extreemly rare to see FHA loans just a year ago, but with many of the zero down, ARM and no doc loans going away, first time and single income families have a lot fewer options. FHA is becoming more popular and I think will ocnintue to see a rise in popularity until we are out of the woods financially. Personally, I think they are great loans and a fantastic option if you qualify.
Sat Mar 22 2008, 14:39 Web Reference: http://www.RobsSeattleHomes.com
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FHA financing is more and more becoming the way to for first time home buyers or those with low credit scores. In fact, with FHA finaincing, the buyer may be more likely to receive a more favorable interest rate, yet it does require the buyer to put 3% down. If you are asking this question, I would say it is likely that you have yet to have a great relationship with a lender. I would suggest you go to my web site, listed below, where you will find a lender who can answer your questions. His name is Thomas Wood. Great communication between the buyer, real estate agent and the lender is essential for you to receive the best representation. Feel free to contact me anytime.
Sat Mar 22 2008, 09:12 Web Reference: http://lancegoodwin.com
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I think we will see more FHA loans as an alternative for low down buyers. I wish the FHA limit was more realistic in the Denver metro area.
Mon May 21 2007, 07:38 Web Reference: http://thedenver.blogs.com
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FHA financing is, in many ways, a subprime loan with A paper rates. I use it when a borrower has good credit but poor credit scores (due to past problems)
Fri May 18 2007, 23:00 Web Reference: http://brian-brady.com
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I think FHA does provide a solid alternative for may buyers. Though, the limit in Seattle may be low for many single family homes. In respects to condos, it's my understanding that to be eligible for FHA loans, the condo complex must be FHA-approved.
Thu May 17 2007, 19:14
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FHA financing is great for borrowers (especially first time home buyers) if they need a low down payment and do not have an established credit history.
In Seattle, FHA loans are probably more likely for condos and townhouses than single family dwellings unless you move further from the city. The average home price in the city of Seattle exceeds the current FHA loan limit. You can read more about FHA mortgages on the link below. Thu May 17 2007, 06:17 Web Reference: http://www.raincityguide.com/2007/05/04/fridays-rates-a...
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Check out more Financing questions in Seattle...
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