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Thesa Chambers, Principal Broker

Contact Us Today At (541) 771-7064
thesa@centraloregonbuzz.com

70 SW Century Dr #110 Bend, OR 97702

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FHA Is For More Than The First Time Home Buyer

Did you know that an FHA loan is not just for first time home buyers? It is a myth that FHA home loans are only for the first time home buyer. Today, we are going to take a look at what our friends over at Home Loan Ninja have to say about FHA loans.

FHA loans can be used to refinance a home, and may be a good choice because of the leniency regarding credit scores. Whether purchasing or refinancing there are reasons people choose an FHA home loan.
An FHA home loan currently allows for a borrower to have a 580 FICO score, however this can change and sometimes one bank will have a different requirement.  This is set bank by bank, some will banks during changes will require a different score than another.  Now that does not mean you should shop on and on for a lender that will allow a lower credit score, what it does mean is that you should be working closely with your REALTOR® and your lender from the start. This way when changes happen you are prepared.  FHA loans allow you to finance 95% of the property value. Many conventional loans will only finance 75% to 80% of the property value. Additionally many conventional loans are only available for those with a 720 FICO score.

Additional Ask The Mortgage Professional Articles

Looking for a mortgage professional? I would encourage you to contact;

Jason or James – your Home Loan Ninjas at 503.799.4112 or you can visit their website and see more info about mortgages and what you should expect.

Posted in: Buying Tagged: bank owned homes, Bend, Central Oregon, central oregon home sales, central oregon homes for sale, first time home buyer, la pine bank owned homes, la pine homes for sale, la pine real estate, lapine homes under $200000

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About Thesa

As your real estate agent, I understand the value of providing the best possible service to every buyer and seller. Listening carefully to fully identify not only your desires but also your needs. Then work diligently to ensure that both are accommodated to the best of my ability. We will stay abreast on changing market conditions, trends, developments and research all factors that could affect the purchase or sale of your property.  My success and your happiness greatly depend upon the quality of the relationship we achieve.  Through personal redefinition of the professional standards set by most agents, I hope set myself apart from the rest and become the first person that you think of for all of your real estate needs.

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Thesa Chambers, Principal Broker Fred Real Estate Group
thesa@centraloregonbuzz.com
(541) 771-7064
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The data relating to real estate for sale on this website comes in part from the MLS. Listing broker has attempted to offer accurate data, but is not guaranteed accurate. All information presented is deemed reliable but not guaranteed.

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