First Time Homebuyer 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 judgments.
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.
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 Homebuyer New Jersey
Mortgage World 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.
Call us 888.958.5382
FHA credit requirements - Loan-to-value - Loan limits - Debt-to-income
We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.
We look forward to working with you.
We look forward to working with you.
Nov 28, 23 04:07 PM
Nov 28, 23 04:05 PM
Nov 28, 23 04:03 PM
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800.516.9166
First Time Homebuyer New Jersey
FHA requires a minimum credit score of 500 to buy a home or refinance
Collection accounts
A collection is minor in nature usually does not need to be paid off as a condition for loan approval
Bankruptcy
Chapter 7 Bankruptcy at least two years must have elapsed since the discharge date
Foreclosure
Foreclosure must have been resolved for at least 3 years
Short Sale
FHA guidelines requires three year past from the date of sale of the property
Call Now, Our Staff is Available
888-958-5382