House passes bill to strengthen FHA

Posted on Sep 13, 2012 in Unique Loan Programs

A handful of nice chateau photos I identified:

Château de Fléville (France – Lorraine – 54)
chateau
Image by michellefouineur
Vue sur le parc du château.

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Château de Fléville (France – Lorraine – 54)
chateau
Image by michellefouineur
Vue sur le parc du château.

If you would like to see a lot more houses click right here…

Château du Taureau
chateau
Image by monmimoun
Château du Taureau – Baie de Morlaix – Carantec

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Question by : does my credit score have to be in the mid 600’s to get approved fha with a mortgage company?

if so, price what are the options I have? How do I get around the mortgage company. Do I go directly to fha lender.. Can somebody help with these questions.Thanks
chatsplas, cheapest I have more than 20% to put down, yes my credit maybe poor right now but I’ll say about 6 months from now I maybe able to pay it off…
The house that is.

Best answer:

Answer by chatsplas
NO, that’s too low for FHA.

Your options are PAY CASH, then there’s no lender to worry about, and your poor credit doesn’t matter.
Another choice, PUT DOWN 20% and avoid substantial extra costs of PMI, and lender will be willing to overlook your poor credit.
WAIT until you have repaired your credit. You do this the same way you destroyed it, one month, one payment at a time.
SAVE money for down payment. More you put down, the less you pay in interest over the life of the loan.

What do you think? Answer below!
Residence passes bill to strengthen FHA
The measure would set a minimum rate for the annual premiums paid for mortgage insurance, buy exclude unscrupulous lenders from the system and require these who commit fraud to repay the FHA. The reserve fund of the FHA, which insures a lot more than $ 1 …
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Take Advantage Of Low FHA Streamline Refinance Loan Rates Now
“It&#39s possibly the best time to take benefit of low FHA streamline refinance loan rates as refinancing charges and charges for mortgage insurance coverage premiums have been substantially lowered. Besides, the Obama administration has also announced handful of adjustments …
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Mortgage Rates: Low Mortgage Rates Stable After German Court Decision
Until the end of 2013, the FHA streamline is accessible with decreased upfront and annual mortgage insurance premiums for borrowers who have loans that had been endorsed prior to June 1, 2009. In order to obtain much more details about the FHA streamline or …
If you would like far more informaiton please go to here…

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