Down Payment and Acceptable Sources of Borrower Funds for a Las Vegas FHA Purchase Mortgage

FHA Mortgages are popular programs for Las Vegas First-Time Home Buyers due to the low down payment (3.5%) that is required.
This can be a little confusing for borrowers looking at foreclosure properties that have a significant amount of perceived equity, but the FHA clearly defines that the minimum down payment on a purchase transaction is [...]

Las Vegas, NV Clark County FHA Loan Limits

After a brief reduction in Las Vegas, Nevada (Clark County) FHA loan limits, we are back up to an amount that should satisfy most First-Time Home Buyers.

County Name

Single Family

Two-Family

Three-Family

Four-Family

Clark

$400,000

$512,050

$618,950

$769,250

* Reverse Mortgage Loan Limits for the FHA HECM have also been raised to $625,500
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Las Vegas First-Time [...]

$8000 Las Vegas First-Time Home Buyer Tax Credit

If the low mortgage rates and property values aren’t enough to encourage Las Vegas First-Time Home Buyers to take advantage of some great property deals this summer, then the $8000 First-Time Home Buyer Tax Credit might help sweeten the deal.
As part of the $787 Billion American Recovery and Reinvestment Act of 2009, the $8000 Tax [...]

Getting Started With a Las Vegas First-Time Home Buyer FHA Mortgage

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As an FHA licensed Las Vegas mortgage company, we feel privileged to be able to offer our First-Time Home Buyer community with FHA programs that can truly provide for the American Dream of home ownership.
With flexible credit history guidelines, low down payment requirements, competitive mortgage interest [...]

Los Angeles County FHA and Bankruptcy

California Home Buyers are eligible for FHA loans in Los Angeles County even if they have a bankruptcy in their credit history.  The FHA, which simply is the mortgage insurance company that insures low-downpayment loans, allows for credit blemishes…as long as a plausible written explanation is provided by the borrower.
Filing bankruptcy because you wanted to get out [...]

Michigan Homebuyers And Credit Requirements For FHA Loans

If you are buying a home in Michigan, then you need to understand the credit requirements for FHA loans.
FHA Underwriters are the people that work for the FHA mortgage lenders and make the decisions on loans. Although FHA loans are one of the easiest loans to get in today’s real estate market, you still need to [...]

Low FHA Mortgage Downpayment Requirements for Livonia, MI First-Time Homebuyers

First-Time Home Buyers in Livonia, Michigan can take advantage of the low FHA mortgage down payment requirements for 2009.
With a minimum down payment requirement of only 3.5%, FHA mortgage loans have remained the Michigan first-time home buyer program of choice due to the flexible high Loan-to-Value guidelines.
Given all the craziness that is going on in [...]

Michigan’s #1 FHA Expert – Jeff Mifsud

Jeff Mifsud
Michigan FHA Expert
Ann Arbor, MI 48108
Phone: (248) 320-9811
Email:  jeff (at) TiredOfRent.com
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About Jeff Mifsud:
Jeff has been a successful FHA originator in Michigan for nearly 15 years.  As a former FHA Direct Endorsed Underwriter trained by HUD, he has a unique experience and understanding from all angles of an FHA mortgage transaction.
A featured FHA expert [...]

True Story-NJ First Time Home Buyers Collect $8,000 Tax Credit

We are only a eight days past April 15th and New Jersey First Time Home Buyers are already starting to collect their $8,000 First Time Home Buyer Tax Credit.

Typically, talk about the IRS, Income Taxes and the April 15th deadline does not bring smiles to peoples faces, however, 2009 is a different story. The $8,000 First Time Buyer Tax Credit is real and my clients in Ocean County, NJ and Monmouth County, NJ are getting their hands on it.

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