Rosita McLaurin

Why FHA Financing Is The Best Alternative For Many

As conventional guidelines tighten and we see the affects of the HVCC appraisal policy on the real estate and lending industries, we are eternally grateful that we are an FHA approved lender. A key component is that we have the ability to select an experienced appraiser of our choice. The quality of the appraisals on FHA loans is far better and turn times are faster. This translates into easily being able to close escrows within a 30-day period.  

However, there is so much more to FHA that has a POSITIVE impact on today's buyer and seller.  As the real estate market heats up now that the vacation season is over and the kids are back in school, let me remind everyone as to why FHA financing is the best alternative for many.

- Credit scores as low as 620 are acceptable.

- Down-payment requirement only 3.5%.

- Entire down-payment and closing costs can be Gift Funds

- Non-Occupying Co-Borrowers allowed - this is a huge factor.

- Time lapsed on a bankruptcy before obtaining new financing is far less than on conventional financing.

- It is worth repeating that we get to choose the appraiser of our choice.   

- No cash reserve requirements necessary. 

- Lower occupancy requirements on condos (must be on FHA approved list).

With years of FHA experience, all one has to do is call any one of the experienced Loan Officers at Plaza Home Mortgage to "Experience Our Experience".

Roger Porzak

Plaza Home Mortgage, Inc.

Branch Manager/Sr. Loan Officer

(858) 735-6566 Direct

(858) 435-4358 eFax

homeloans@rogerporzak.com