The press has seemed to really pick up surrounding FHA loans in the past couple of weeks. Professionals in the housing and mortgage industry have been talking about this solution for months. For many potential buyers, it was and still is the only valid option out there. Lower down-payments and more flexible credit requirements are beginning to make homeownership an affordable option again.

Also, in the past few weeks the Economic Stimulus packet has really begun to positively affect our local market with the better lending standards on what were traditionally “jumbo loan” limits. Between this and another article in the Seattle PI last Friday…word and excitement seems to be spreading.

FHA approved communities

To help stimulate sales in many communities we have begun to see signs like these. Non-FHA approved communities really seem to be struggling to sell.

I am by no means an expert on loans…but I am excited to see more options and mortgage applications up. Things continue to look gray but there are the occasional signs of life and things to get excited about in today’s market. I am a big believer in staying away from negativity in all aspects of life…even in your work. No matter how rough the housing market is or may get…it also will get better. Don’t miss a great opportunity to buy now. If you couldn’t get qualified before or didn’t like the terms involved with your potential mortgage…call your lender now and discuss the FHA loans with them…you may be happy with this new solution for you.

Good luck and enjoy the sunshine…go look at some houses, it’s finally beautiful and a little warmer!

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This entry was posted on Monday, June 16th, 2008 at 11:05 am and is filed under Mortgages/Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.