If you are planning to use an FHA loan, here is some important information you need to know.A property must be FHA eligible. That means it cannot have any “health and safety issues.” Your real estate agent should be able to advise you as to which properties will not qualify. This will save you a ... [Read More]
If you are planning to use an FHA loan, here is some important information you need to know.A property must be FHA eligible. That means it cannot have any “health and safety issues.” Your real estate agent should be able to advise you as to which properties will not qualify. This will save you a lot of time and disappointment. If your agent is not sure, s/he should consult with your lender. FHA does not require a pest report or section 1 clearance unless the appraiser makes negative comments about the property that would cause the lender to want to know more information. So, if your agent knows, going into the loan process, that there is going to be a potential issue, then s/he needs to make sure that it’s possible to get a section 1 clearance or to get the repairs done prior to the appraisal process.
Many of you have had questions about the new Tax Credit Laws, so I thought it would be helpful to post these links to two excellent Q & A documents for you from http://www.federalhousingtaxcredit.com/
Be sure you check with your tax professional before making any final decisions.
Enjoy!
Click here for a list of frequently asked questions.
Click here for information ... [Read More]
Many of you have had questions about the new Tax Credit Laws, so I thought it would be helpful to post these links to two excellent Q & A documents for you from http://www.federalhousingtaxcredit.com/
Be sure you check with your tax professional before making any final decisions.
Enjoy!
Click here for a list of frequently asked questions.
Click here for information specifically about the eligibility requirements for existing homeowners.
