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