Bridge Loans From FHA - $8000

FHA first time home buyer mortgages will soon be a lot better for home buyers and first time home buyers. Hud and FHA plan on giving buyers an $8000 bridge loan that they can use now to buy a home rather than wait to get their refunds. Not all of the details have been outlined yet.

FHA tax credit program

Fha Mortgages vs. HomePath Mortgages

A HomePath Mortgage may be a better choice than an FHA mortgage loan. A Home Path Mortgage loan only requires 3% down whereas an FHA loan can require up to 3.5% down. There is no PMI insurance required on a HomePath Mortgage. An FHA mortgage has mortgage insurance as well as a 1.5% funding fee up front ouch. There is no appraisal required for a HomePath loan.

Home Path mortgage information

Ameridream may be going away - ameri dream

Hud is trying to impose a new rule to get rid of the charitable down payment assistance programs like Ameridream. Tell Hud that that would be a disaster in todays real estate market. Anything we can do to stimulate the real estate market would be a good thing. Taking dpa away would cut out 200,000 housing opportunities a year. Imagine what this would do to an already sluggish housing market. Tell Hud they have it wrong. Tell Hud that they need to support Ameridream and other down payment assistance programs. Go to Support Home Ownership to leave your comments.

What is Ameridream

What is FHA Secure?

What is FHA Secure? FHA Secure is for homeowners that are behind, getting behind or have had recent late payments on their mortgages. The government stepped in and created this program to give relief to homeowners. Many of these homeowners have subprime mortgages that are going to adjust. Many of these homeowners will be unable to afford the new payments when their ARM loans adjust.

If you are concerned about your mortgage adjusting or the payment is too high contact any lender or mortgage officer. FHA Secure is offered across the entire country. Do not delay if you are in trouble. The sooner that you act the better.

What is FHA Secure

What is Ameridream?

Ameridream is a non profit company that helps low to moderate income individuals or families by a home by providing down payment assistance. The Ameridream dpa program has been setting the standard for which all other down payment assistance programs strive to be. To get the Ameridream cash assistance, you must find a seller that is willing to participate in the program. The seller pledges money from the proceeds of the sale to the Ameridream foundation. In exchange Ameridream will gift the buyer the down payment needed for the FHA financing. Typically it is 3%.

More info on Ameridream

Can I still buy a home with no money down?

Easy answer is yes. FHA has some great options available. With an FHA mortgage you are allowed to have a seller pay all of your closing costs and provide a down payment. You must find a seller that is willing to do this because all of this money comes out of their proceeds. But in a down market sellers are more willing to do this if they are motivated to sell their property. My advice is to find a Realtor this is familiar with FHA financing knowledge to help you work out a no closing cost home purchase.

GetPrequalified.com