- NO Minimum FICO score is required
- There are NO “non-allowables” for sellers any longer
- FHA now uses the same appraisal forms as Freddie and Fannie
- Buyer CAN currently be in chapter 13 BANKRUPTCY
- Sales Price up to $206,000 (and should be up to $275,000 by year end)
- It is an assumable loan (important when rates go to 8% and they are at 6%).
- There are NO prepayment penalties (unlike many 80/20 High Risk loans)
- Can have federal tax liens and not have to pay them off
- Can have unpaid collections
- Experienced Loss Mitigation staff dedicated to help homeowners avoid foreclosure
…And all this with a market interest rate!
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