Enter the complicated world of real estates


Your Home Buying Plan - Part 2

The government, after being in the peoplelet's cover the requirements to get approved
business for decades, has taken a realisticfor a loan.Under government guidelines you
attitude towards average people with creditmust have at least one (1) year of on time
issues. You are not the only one to have lostbill payments. This means paying every bill
a job, gone through a divorce or had medicalthat is reported on your credit report. NO
trauma in your life. When these things happenEXCEPTIONS! If you cannot do this, you most
something has to give.I can understand whencertainly are going to have a difficult time
average people take their paycheck home andconvincing an underwriter that you have the
try to figure out what bills to pay. Mosthabit of paying your bills on time. The
people that have credit issues were in prettysecond requirement is evidence of paying your
good shape at one time in their lives. As Irent on time for two (2) years.Unlike a
stated before things happen, billsconventional bank that won't even talk to
accumulated and priorities such as puttingconsumers with credit issues, the
food on the table came first. So aftergovernment's program may be your only
putting food on the table and paying the rentopportunity to purchase a home. Now analyze
or mortgage, you became delinquent in otherall of the things we've covered and decide if
debts.Remember when you buy a home, you haveit's worth it. The Federal Government is
to pay the closing costs and down payment.aggressively making home ownership a reality.
This where the US Government in the form ofDo you want to be included? It's your
the FHA can help. How does this happen?decision.This may not have been your idea of
Well, the FHA has taken the position that aa home buying plan, but now that you've read
new home buyer can accept gift funds towardsthis I hope it makes sense.In my next article
a down payment. The only catch is those fundsI'll discuss how a good rental is vitally
must come from an approved source. Yourimportant when it comes to qualifying for a
family, for instance, can give you the moneyhome mortage financing whether it's in
for the down payment. It CANNOT be a loan.California, Florida or Rhode Island.Chuck
That would impact your ability to makeLunsford is the owner and developer of He
mortgage payments in the eyes of the FHA. Theoffers advice on how to get your credit in
down payment can also come from an approvedorder and working for you. Visit his website
non-profit organization.Approved non-profitsand learn more about how to obtain florida
must first be 501C organizations. Now that wehome financing.
know we can get down apyment assistance,



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