Many buyers need help buying a home because they don’t have enough information about how banks evaluate the borrower’s income. Here are some little known facts that will help you with your purchase: -If you are a W2 employee, Fannie Mae criteria dictates that the total of all monthly payments does not exceed […]
Down Payment
FHA Loans
During the boom of sub-prime lending, when anyone and their mother qualified for a mortgage, FHA lending was almost non-existent. Conversely, during the past several years anyone who does not have a 20% down payment or who has sub-par credit turns to FHA as the only solution. The Federal Housing Administration (FHA) was formed by […]