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New FHA Changes Could Mean You Now Qualify

by Nate Martinez

New FHA Changes Could Mean You Now Qualify 

Federal Housing Administration (FHA) has made changes to their guidelines that could mean you now qualify after an economic hardship.

Under the typical FHA guidelines, a borrower must wait at least 3 years before they can qualify for a new FHA loan. However under these changes, a borrow may qualify in as little as 12 months after what they consider an economic event, such as a bankruptcy, foreclosure, deed-in-lieu or short sale.

There are a few requirements a borrower will have to meet in order to qualify under these new “economic event” guidelines:

  • Loss of employment or signification loss of household income beyond their control
  • Must demonstrate full recovery from the event for 12 consecutive months
  • Must complete housing counseling

If you have experienced any of these economic events, you may be eligible for an FHA loan under the changes to the guidelines – even if you stopped making payments during a short sale – you may be eligible to buy a home now. If you would like to learn more about your ability to qualify, please give me a call today. Nate

www.NatesHomes.com
602-974-7000

HUD Auction -- this Saturday!

by Nate Martinez

This Saturday, March 26th HUD will be hosting an auction featuring 150 MOVE-IN-READY homes. Bidders have the opportunity to purchase a home for as little as $100.00!

For this auction only, the following terms apply:

  • Purchaser MUST be an "owner-occupant" (meaning you plan to live in the house as your primary residence).
  • HUD will pay up to 3% towards buyer's closing costs
  • Special FHA $100.00 down payment financing program is available for eligible borrowers

Registration is required for this auction, please contact me to learn more. $100.00 down? Don't miss out, call me TODAY!

$100 Down Payment?

by Nate Martinez


$100.00 down, buys you a house!

On Saturday, March 26th HUD will be hosting a rare auction opportunity -- 150 MOVE-IN-READY homes will be sold!

For this auction only, the following terms apply:

  • Purchaser MUST be an "owner-occupant" (meaning you plan to live in the house as your primary residence).
  • HUD will pay up to 3% towards buyer's closing costs
  • Special FHA $100.00 down payment financing program is available for eligible borrowers

Registration is required for this auction, please contact me to learn more. $100.00 down? Why wait, call me TODAY!

Displaying blog entries 1-3 of 3

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Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
623-643-1010
602-430-5226
Fax: 602-532-7352

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