Home Buying in 54401>Question Details

Bproctor13, Home Buyer in Wausau, WI

My question is am I eligible for a FHA Loan? I would be a first time home buyer and would like to know if I would even qualify...

Asked by Bproctor13, Wausau, WI Mon Feb 24, 2014

Help the community by answering this question:


There are good FHA programs out there and also in the Central Wisconsin Area there are Down Payemnt funds possibly available after March 16th, 2015. Contact a local lender to get more details.
0 votes Thank Flag Link Tue Mar 10, 2015
You need to contact a lender to look over your scenario in detail. They will take a close look at your income, assets, liabilities and creditworthiness to determine if you qualify. I work with over 40 different lenders to provide our clients with more opportunities and the best possible financing. Feel free to contact me with questions or to get started with a free professional assessment

Thank you,

Ashley Pimentel
Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
0 votes Thank Flag Link Tue Feb 25, 2014
FHA home loans were designed to help you fulfill your dream of home ownership and are therefore the easiest type of real estate mortgage loan to qualify for. Among the home loan options available that require a minimal down payment, FHA loans are the most popular. In fact, the FHA loan is the most flexible type of home mortgage loan to qualify for.

Steady employment history, at least two years with the same employer.
Consistent or increasing income over the past two years.
Credit report should be in good standing with less than two thirty day late payments in the past two years.
Any bankruptcy on record must be at least two years old with good credit for the two consecutive years.
Any foreclosure must be at least three years old with good credit for the past three years.
Mortgage payment qualified for must be approximately 30 percent of your total monthly gross income.
If you can answer YES to these statements you should have no problem qualifying for an FHA home mortgage loan.

While pre-qualifying for a loan doesn't necessarily guarantee that you will be able to purchase the home of your dreams, it does help you and potential lenders know your borrowing power and what you can afford in terms of a monthly mortgage payment. Pre-qualifying for a loan simply means that you have taken an inventory of your income and assets and submitted them to your potential lender.
0 votes Thank Flag Link Mon Feb 24, 2014

The first step for you is to get the pre-approval process started with an experienced lender. If you have your basic financial documents available, I offer same day service on this. No matter what your time-frame is on buying a new home it is never to early to find out where you stand.

I'm available to help you at your convenience if you wish.

I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

0 votes Thank Flag Link Mon Feb 24, 2014
Let's discuss your FHA loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.

Bart Gabe - Lending Nationwide Since 1987



800 315 8803

NMLS 20743
0 votes Thank Flag Link Mon Feb 24, 2014
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