If you are looking to buy a foreclosure as a primary residence FHA can help you
purchase the home with 100% financing. Federal Housing Administration has waived
their 90 day requirement for homebuyers. Previously homebuyers had to wait 90
days for a home to be approved for financing to stop flippers from using FHA
loans. The infusion in FHA loans will provide another pillar for the market to
regain it's balance.
Note: FHA is for Primary residence only.
This is how
it works FHA will give you 97% of the purchase price. The Seller can give you up
to 6% to cover your closing cost and prepaid. The 3% down payment can come from
a friend, a family member, or a non profit.
I have NON PROFIT that will give
you the 3% all day long, because they charge min $500. The seller signs a pre
arranged agreement giving instructions to the title company that the 3% plus
$500 processing is wired back to the Non Profit from the seller
proceeds.
Contact: Thomas Martin
Phone: 954-391-8387 or E mail me at
Email Me Here
Email Me Here
http://www.fhamortgageprograms.com/
