To qualify for FHA Secure, eligible
homeowners must meet the following five criteria:
1) A history of on-time mortgage payments before
the borrower's teaser rates expired and loans reset;
2) Interest rates must have or will reset between June 2005
and December 2009;
3) Three percent cash or equity in the home;
4) A sustained history of employment; and
5) Sufficient income to make the mortgage payment."
"Under the new FHA Secure plan, FHA will
allow families with strong credit histories who had been
making timely mortgage payments before their loans reset-but
are now in default-to qualify for refinancing. (Source - HUD
news release HUD No. 07-123)"
For more information concerning this
program. Contact us at 815-986-6729 or
email us.
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New Home loan purchases
are a specialty for our company. We find ways to get
people financed when other banks and lending
institutions turn them down. We use the most advanced
technology available to arrange financing terms that
surprise many customers. By combining the use of the
Internet along with advanced processing software and
automated underwriting systems we have taken the mystery
out of approving and closing a home loan.
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Throughout the entire loan process, we
anticipate and handle every aspect of the
lending experience to leave you with peace of
mind and the knowledge that there will not be
any surprises. Customer service, timely
communications, attention to detail, and just
plain hard work are the true keys to success in
real estate lending.
Our mission is to enter into a
lifetime real estate financing partnership with
our clients. We will provide our partner-clients
with the best available real estate financing
information, guidelines, strategies, and loan
products necessary to achieve the goal of home
ownership. By providing this service and
exceeding our partner-clients' expectations, we
will forge a permanent bond as your lifetime
real estate financing partner. We will be the
referral source for your real estate financing
needs for your friends, family, customers, and
business associates.
We offer residential loans for all situations and types of
credit history. Contact us to see what the type
of loan program we can help you with. |
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