And actually, it is you that is mistaken, there ARE strict guidelines to be FHA approved? If you've been watching the news recently, earlier this May 2009, about 120+ lenders were dropped by HUD for writing loans ?the easy way? as you so ... but private lenders lend the funds for the loan. FHA does NOT HAVE STRICT GUIDELINES ON WHO CAN DO FHA LOANS. The reason smaller lenders choose not to do FHA loans is that the application fees to get approved are in the thousands of ...
September 5, 2010. try an fha loan . You need to demonstrate on time payments on all your debts for 1 year they don't look at credit scores. . Pull up your 3 credit reports and try to fix all you can. Save save save ... put aside $250 and don't touch it. This gives you a very realistic picture of whether you actually can comfortably afford the new payments you're thinking of, and when the time comes to buy, you've got help with a down payment. Good luck, hope that helps! ...
He went through 3 contracts ? 2 of them were canceled after the property inspection ? before he finally found the perfect Columbus OH home for sale and closed a week ago. When you are buying your first home you have to be persistent! ... This home certainly needed work, but my customer was okay with it. Again, we went through an inspection and appraisal. Then the bank called. They told us that they could not write an FHA loan ? which was the only loan my buyer qualified ...
A friend of mine is a loan officer and she told me a letter of employment from her new job may suffice and show the income they need to get the paperwork pushed through.
Call your loan officer and have him/her check with the underwriter about the steps you can take to make this happen.
Don't be so quick to jump to another mortgage company YET – but let them know you have someone in the wings if they don't want to help.