|FHA Loan Guidlines|
|Down Payment||Minimum 3.5%|
|Closing Costs||Low, regulated by HUD|
|Post-bankruptcy Qualifying?||Can qualify after 2 years|
|Post-foreclosure Qualifying?||Can qualify after 3 years|
|Private Mortgage Insurance||Low cost|
Monday, November 2, 2009
In the past many sellers didn't want to accept FHA loans because of the guidelines. Presently as a seller it would be a beneficial to accept this loan because many buyers are qualifying for an FHA loan and this would give you a better chance of selling your home.