Home Buying in Water Valley>Question Details

Yvonne, Home Buyer in Ocala, FL

how hard is it to get a FHA loan?

Asked by Yvonne, Ocala, FL Wed Dec 22, 2010

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3
Good morning Yvonne....

FHA is the one of the safest loan products available, and since it is a HUD product, it is one of the least restrictive in terms of qualifying. I hesitate to say easiest, because it still takes some work to qualify, of course, however, compared to Fannie or Freddie, the guidelines allow more people to qualify for FHA loans with lower downpayments and more likely to forgive lower credit scores.
Find a great lender that specializes in FHA and go over the guidelines, set your goals, and decide if now is a time for you to purchase a home. Good Luck, Merry Christmas!
Jim, Home Savings of America, 703 591 5626 ext 419.
0 votes Thank Flag Link Thu Dec 23, 2010
FHA has some minimum quailification most lenders have similar type loans with different guidelines as well. Your best bet is to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any programs that you may quailify for.

Please see my blog for advice and tips on getting a mortgage in todays market
0 votes Thank Flag Link Wed Dec 22, 2010
Good Morning Yvonne;
It's not that difficult at all!
Contact your local bank of a lending institution and apply for a pre-approval!!
You can also visit http://www.thehls.com
Web Reference: http://www.321property.com
0 votes Thank Flag Link Wed Dec 22, 2010
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