July 2010 
There are 1 blog entries for July 2010.
FHA Loans-Huge percentage jump in the amount of FHA loans over the past 3 years-common misconceptions..
Sunday, July 4th, 2010 at 7:41pm. 140 Views, 0 Comments.
This article came out just the other day in RISMEDIA and I thought it was interesting as FHA loans issued have risen up to 80%+ in most markets. Here are some common misconceptions:
1. FHA Loans Are Not Only For Lower-Income Borrowers. FHA loans are available to everyone. In fact, even Bill Gates can get one. There is no maximum income restriction associated with FHA loans. Borrowers do need to substantiate income and assets by submitting proper documentation. This requirement ensures that borrowers are well-vetted and truly able to afford their future homes.
2. FHA Loans Are Not Only For First-Time Buyers. Many people believe FHA loans are available only to first-time homebuyers. This is not the case. Whether borrowers are making their first home…