Getting a Home Loan is Not as Hard as you May Think - Financing Options Are A-Plenty!

Being active in residential real estate for 8 years, I have found that there are many myths and mis-information that has worked its way into the minds of the average consumer in regards to financing the purchase of real estate. Many folks do not think that banks are lending money to regular folks. I am writing to set the record straight. Banks are lending! There are even 100% products still available, incredibly. The only difference is that they are no longer lending unless you can document information and income. NINJA loans are no longer available, No Income, No Job, Approved! So, if you have a job and have income, and you can document this, you may be qualify for a home loan. Pretty simple!

Here is the most popular loan option for many 1st time buyers and a what it takes to qualify:

FHA Loans:

- 96.5% finaning available, 3.5% down payment
- Lenient credit policy, 600 Credit Score
- Primary purchase of Single, 2-4 unit multi family homes and condos
- If relying on rental income from a 2-4 unit properties, 3-4 months reserves is required
- Non-occupant co-borrower allowed as well as gift moneies from family
- Concessions paid by the seller up to 6% of the appraised value
- Option to borrow addtitional funds for a renovation known as 203k loan(very popular right now with the number of short-sale and foreclosure properties on the market).

I will write again soon with more details on the 203k, rehab loan to give you more details, so take a second to sign up for notifications to recieve my blog by email when I publish, which I aim to do with more frequency in the coming year, ideally once or twice a week. Look for the button to click on this page to sign up, very easy.

In the meantime, please do not hesitate to call me if you have a real estate question or a re-financing or financing question as I'm always glad to hear from my customers and clients and offer you my professional advice, at no cost. All I ask is that you remember me when you or a friend, co-worker or family member would like to buy or sell a property... Thanks!