First time home buyer New Jersey - Effective for all FHA programs. There are no documentation or letter of explanation requirements for loans with collection accounts or judgments run through Fannie Mae that receive an Approve/Eligible despite the presence of collection accounts or charge-offs.
An exception to the payoff of a court ordered judgment may be made if the borrower has an agreement with the creditor to make regular and timely payments.
The FHA has taken the following step:
FHA increased the annual MIP requirements:
For any mortgage with an loan-to-value greater than 90% FHA will assess the annual mortgage insurance premium until the end of the mortgage (life-of-the-loan).
For all mortgages with less than or equal to 90% loan-to-value the annual mortgage insurance premium will be assessed for the first 11 years of the mortgage term.
Today’s historically low interest rates make now the perfect time to purchase a new home or refinance.
First time home buyer New Jersey
www.Mortgage-World.com LLC is an online mortgage company specializing in FHA loans for first time home buyers. To buy a home with 3.5% down payment and a minimum credit score of 580 using an FHA loan.
Call us 888.958.5382
www.MORTGAGE-WORLD.com LLC is an online mortgage company specializing in FHA loans for first time home buyers.
We look forward to working with you.
Nov 28, 23 04:07 PM
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