Have you noticed that FHA loans, which seemed to disappear for a decade or so, are now back in the news? Here's why. Before the sub-prime meltdown, lenders were bending over backwards giving loans to practically anyone who asked, despite their income or credit scores. Since that strategy blew up in their faces, lenders are nervous about losing more money by making more bad loans. Federal Housing Administration (FHA) loans are backed by the Federal government, so they are considered to be less risky than non-insured loans.
Although they can take longer to close and may involve additional fees, FHA loans can be a valuable and viable option for financing a home, particularly if you have been turned down by traditional lenders. For more information, click on the following link or copy the address into your favorite browser. www.fha.com/about_us.cfm
Single adults face unique challenges when buying and selling a home. I know because I've done it myself, & a significant portion of my clients are single. This blog provides news & information you need to help you achieve your real estate goals. Alice Kuder, REALTOR®, Green. Prudential Northwest Realty Associates, Seattle, WA
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