what do you need to be approved for a fha loan on a house?
have excellent credit and 2000 down and the house is 55k dollars.
Read more about the FHA Loan here.
have excellent credit and 2000 down and the house is 55k dollars.
I need more help for closing costs and downpayment. The home is in Oklahoma. I’m a single mom and 1st time homebuyer.
Would it be possible to work out an arrangement to utilize the loan with the agreement whatever credit be applied to any back taxes owed? Assuming the amount owed is less than the credit (which it would be)
I am a first time home buyer in Columbus Ohio and i heard about Down Payment Assistance Grants program that could exist. Could anyone shed some light on this?
Do I need to have funds in reserve as well?
My husband and I would love to jump on purchasing a house to take advantage of the tax credit, but we have a considerable amount of debt– his is in student loans, and mine is in credit cards.
Our current rent payment is substantially more than our mortgage payment would be, so we know we are capable of taking care of the costs. However, we are concerned about getting approved in the first place, given our debt is so high.
What are the chances that we will be approved without having to spend a year or three paying down our debts?
I am getting conflicting answers from two different lenders. I asked this question last week, but it was removed before I could read all the answers. Any advice?
Correction-Federal Perkins Loan (not grant). Thanks!
I traded in my car a few weeks before my loan was pre approved. My car note went up 90.00 making my debt to ratio 22/46 . Credit score is 630..will FHA deny me because of this or will they give me options before not approving the loan.
If we meet all the conditions, will the underwriter clear it?