Monday, November 2, 2009

FHA Loans

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.

FHA Loan Guidlines

Down PaymentMinimum 3.5%
Closing CostsLow, regulated by HUD
Post-bankruptcy Qualifying?Can qualify after 2 years
Post-foreclosure Qualifying?Can qualify after 3 years
Private Mortgage InsuranceLow cost

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