FHA Underwriting Guidelines: Fact, Fiction and Urban Legend
Posted by Ben Nicolas on
There are alot of misconceptions surrounding FHA within the Real Estate Industry. Especially from people that have been in the industry for a long time. During the height of the "Mortgage Bubble" no one used FHA because of the relative difficulty in closing them. HUD realized this and revamped the program in significant ways in order to make FHA a more competitive program within the marketplace. These modernization efforts combined with the dissappearance of the Secondary Market for non-agency products and the simultaneous tightening of the Fannie/Freddie conventional guidelines has placed FHA back on top as the financing product of choice for Residential 1-4 unit purchase transactions and high ltv refinances. I'll try to address some of these…
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