Comments on: Qualifying For a Home Loan: 6 Reasons to Consider FHA

By: LendingClarity.com » Blog Archive » FHA Access-A Safe Way to 103% Financing

Fri, 18 Apr 2008 23:11:39 +0000

[…] A couple of weeks ago I wrote an article called Qualifying For a Home Loan: 6 Reasons to Consider FHA.� Not all lenders have been around long enough to remember FHA loans.� Those who have remember the extra requirements that made FHA loans unpopular with sellers.� � But it’s a buyer’s market today, and all that has changed. […]

By: marc brinitzer

marc brinitzer — Sun, 29 Jul 2007 15:11:53 +0000

Thanks Jeff. I didn’t mean to mislead.

I was referring to a program that may only be available in California. It’s called FHA Access, and it actually IS a 6% 2nd loan piggybacked onto the normal FHA 1st. This result in a 103% LTV% and virtually nothing in closing costs or down payment for the borrower.

I would have made that clearer but didn’t want dilute my point about using FHA loans with too many details about this 2nd.

By: Jeff Belonger

Jeff Belonger — Sun, 29 Jul 2007 02:26:38 +0000

Some good information here but very misleading when you state 100% LTV… this is not 100% true. To me, it’s like false advertising. And you don’t get a 2nd loan. You can get a down payment assistance program which is built into the cost of the property….usually…. not a 2nd loan.

I just had to point this out. Sorry if it sounds rude, but not really true on how it’s written.

By: LendingClarity.com » Blog Archive » FHA Access–A Safe Way to 103% Financing

Sat, 31 Mar 2007 23:34:47 +0000

[…] Qualifying For a Home Loan: 6 Reasons to Consider FHA […]

By: Marc

Marc — Wed, 14 Mar 2007 19:21:38 +0000

FHA does not offer any sort of reduced documentation loans–Stated Income, No Ratio, or No Doc loans. You have to provide paystubs, W-2’s and tax returns to prove you earn what you say you earn. Increasingly however, this is true for other forms of 100% financing.

Also, FHA loans are now submitted and approved through the Automated Underwriting systems that allow higher debt ratios.

Thanks for your question!

By: Kathryn Boydston

Kathryn Boydston — Wed, 14 Mar 2007 19:15:16 +0000

Does FHA offer no income verification loans yet? Won’t it be hard for people to qualify?