Thursday, March 11, 2010

FHA Compensating Factors

June 11, 2008 by Eleanor  
Filed under FHA Mortgage Loans, First Time Home Buyer

FHA (and all government underwriting for that matter) is somewhat different from other, more automated systems of loan approval. On an FHA loan you can actually have a real person look at the loan and apply the golden rule – not just a bunch of meaningless stipulations. This is often the difference in making the dream of homeownership a reality… because not everybody has a perfect credit history, with a 20 year job, and 2.3 kids!