What You Need to Know About the Updated FHA Loan
By Lynn Tardibuono, Sun Pacific Mortgage and Real Estate
(Sun Pacific Mortgage and Real Estate)
New Updates on the FHA Loan What You Need to Know Anyone buying a home today is well aware of how difficult it is to obtain a loan. It may very well be the most difficult aspect of purchasing a home - getting the funding to do so. Sadly, according to an article provided by CNN Money, FHA lenders are about to make it even more difficult to borrow money to buy a home. As of April 1st (no April Fools, promise!) borrowers involved in disputes with creditors over debts of over $1000 might not qualify for an FHA insured loan. The credit score might not have much to do with it either. So if you have pristine credit but owe $1000 on a single charge you could be denied your loan. Before this new standard it was up to the individual lenders to decide whether they would lend to...
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