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FHA Mortgage
Mortgage 101
FHA Loan Qualifying Summary
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This content can be found on the following page:
http://www.investorwords.com/1926/FHA_Loan.html
These loans are the easiest type of real estate mortgage loan to qualify for. The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment and you can borrow up to $420,000.
Following is the basic FHA loan qualification guidelines.
- Two Years of steady employment, preferably with same employer.
- Last two years Income should be the same or increasing.
- Credit report should typically have less than two thirty day lates in last two years.
- Bankruptcy's must be at least two years old, with good credit since.
- Foreclosure's must be at least three years old, with good credit since.
- Your new mortgage payment should be approximately 30% of your gross income.
For more information or to see if you qualify for an FHA mortgage, please contact: Todd Levinson at: 267.243.3819 or via e-mail at: Todd@LivinPhilly.com. You may also visit my website for more information on this loan product or any other.
Date: Tuesday, December, 2nd 2008 @ 07:18:09 AM Views: 127
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