FHA loans are backed by the federal government and provide an outstanding bennifit to buyers!
1. No borrower income limit
2. More credit score flexibility
3. Only 3.5% down payment on loans
4. Higher debt-to-income ratios (on Du or LP approvals)
5. Can finance home of 4 or fewer units
6. HUD REOs
7. Streamlined documentation on refinances
-This program has a great track reccord. It has been in effect since 1934.
-Bankruptcy. Two years Chapter 7 from the date of your bankruptcy discharge, borrowers can obtain an FHA loan, Provided you have since maintained good credit.
-Foreclosure. Three years after final date of foreclosure, borrowers can obtain an FHA loan, provided you have since maintained good credit.
For more information on Discovery Bay homes and Brentwood homes please feel free to contact us @ (925) 392-4131 and email@example.com.