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what do you have to do to get an FHA mortgage?

what do i have to do to get an FHA mortgage? i heard you have to have low income and i think i do but how would i find out? thanks by jake56ellen from Modesto, California. Jan 17th 2011 Reply


Jim Teak II (jimteak)
#234 ranked lender in California - 14 contributions

Call Me With ALL Your Q.'s...JimTeak II @ 619-293-4200www.JimTeak.comwww.FHA.gov

Jan 17th 2011
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Dwight Bennett (Dwight)
#17 ranked lender in South Carolina - 11 contributions

If you are wanting to do an FHA loan, because of the low down payment, I can help you with doing a HUD loan or I can do a conventional loan at 97%. With this loan you would avoid having to pay the upfront mortgage insurance premium of 1% of your loan amount. So it can save you a substantial amount of money.Give me a call if you would like more information 843-290-6635 or email Dwight@ALendingPartner.com

Jan 18th 2011
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- - (Voted.Best.Rates.and.Service)
#11 ranked lender in New York - 374 contributions

FHA loans are available in accordance with the average household income. The bid attraction is the 3.5% down if you are purchasing with little money down. The key is finding a good mortgage professional that is knowledgeable regarding FHA. It is very important for you to understand what you will receive.

Jan 18th 2011
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

You need a Debt to Income ratio of 43% or lower, a credit score of 640 or higher and at least 3.5% equity in the home. How much you make is irrelevant as long as your ratio is witihin the 43% requirement. Call me with any questions. Joe Shamie 877-662-3321 x-102

Jan 19th 2011
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Rudi Hofmann (CaPortfolioLoans)
#278 ranked lender in California - 380 contributions

doesn't matter if you make $30,000 a year or $300,000. ... It's what portion of your income is eaten up with monthly bills. .... Don't shop rate and fees. That may come later. ... The first thing you should do is find someone you feel you can trust. ... Then submit an application for pre-qualification. ... Happy funding, Rudi

Jan 20th 2011
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