A friend recently wrote: “And then there are the rest….those wannabe first time home buyers, those renters who are yearning for homeownership but are uncertain that they can attain a dream they consider to be impossible. Then take into account all the news surrounding subprime mortgages and mortgage programs going by the wayside. And if you are a renter, or a young Gen Y’er looking to break into the homeownership market, do you really understand what an increase in FHA limits means? Will that truly help your personal experience?”
Well, the increase in FHA limits truly means that more people than ever can obtain a home with little money down (and they allow gifts). Income must be verified, your credit needs to be in pretty good shape for the last 12 months, but other than that – you’re golden.
Now more than ever the programs are available for people who WANT to purchase – despite what the TV might be telling you!
Call Steve and Eleanor Thorne, RCBNA for information on Government Loans! 919-649-5058 – connect with us on Facebook at NC Mortgage Experts