HR 6694 and Downpayment Assistance

1/31/2010 Update – There’s still no Downpayment Assistance Program Available in NC.
The House Bill 6694, that was suppose to re-confirm Downpayment Assistance (it’s gone as of 10/1/2008) has made little progress since the summer, and is still sitting in the House Finance Committee.  My personal opinion is that this is a “dead end option.”  But [...]

More Downpayment Needed for FHA

SAVE UP! For more than 10 years there have been agencies that helped with downpayment. The downpayment was “gifted” through the agency – and it’s a bit complicated – but it meant that a homebuyer seeking FHA financing could get a 100% loan. Well, that’s been eliminated with the New Housing Bill.

5 Reasons to Ask for FHA

In today’s market, many homebuyers have heard that 100% loan programs are gone, but that’s simply not true.  It’s just one of the reasons you’re gonna’ LOVE FHA!

Low Downpayment: FHA considers the total investment into the transaction.  They require a 3.5% investment into the property – and this can come from money you have on [...]

FHA Might Be The Ticket!

There are pros and cons of FHA financing – but it just got better for those of us in the Triangle because our minimum loan limit is $295,000.
An FHA loan is a loan insured against default by the Federal Housing Administration.  So, in the event the loan should ever go into default, the FHA will [...]