FHA,VA and Conventional Home Loans » Triplex

You Don’t Have to Be a U.S. Citizen To Apply For a FHA Loan

Rob — Thu, 05 Nov 2009 17:02:21 +0000

You Don’t Have to Be a U.S. Citizen To Apply For a FHA Loan is a post from: FHA,VA and Conventional Home Loans in all 50 States

What many people don’t realize is that you don’t have to be a U.S. citizen to apply for an FHA Loan and be approved. The following resident aliens are eligible for FHA Loans:

Permanent Resident Alien – you will only have to document your permanent residency (front and back copy of card) and provide a copy of your social security card.
Non-Permanent Resident Alien – you will only need to provide copy of valid social security card evidence you are able to work in the United States

So if you are working in the United Stated legally, you can take advantage of the wonderful FHA financing program to buy a home. Here are some highlights of the FHA Loan:

Minimum down payment is 3.5% and that 3.5% can be a gift from a relative
Non occupying co-borrowers allowed to asset in qualification
You don’t need perfect credit, so if you think you have bad credit you may still be eligible for a FHA Loan
50 year low 30 year fixed interest rates
FHA 203k Loan provides money to fix up the house you buy
3.5% down on owner-occupied duplex, triplex and fourplex
Condo’s and manufactured homes OK
FHA is NOT just for first time home buyers! You can own other homes.

Give me a call at 858-922-7899 or email at homeloan8@gmail.com if you have any questions at all about getting approved for a FHA Loan.

Warmest Regards,

Rob Chomentowski

Sr. Loan Officer (and FHA specialist)

858-922-7899

homeloan8@gmail.com

Using Unemployment Income To Apply For a FHA Loan

Rob — Mon, 26 Oct 2009 12:59:25 +0000

Using Unemployment Income To Apply For a FHA Loan is a post from: FHA,VA and Conventional Home Loans in all 50 States

With the current unemployment rates across the U.S. it is common for many people to be receiving some kind of unemployment compensation. There are some cases where you can use unemployment income as income when getting approved for a FHA home loan to buy a house.

Generally, to use unemployment income, you must have been receiving it for the last two years. We will ask for copies of your last two years tax returns to show that you have been receiving it. The borrowers that are generally able to unemployment income to qualify are seasonal workers who are laid off at specific times every year. For example someone who works in the fishing industry for six months and then is laid off for six months, would have a excellent chance at being able to use unemployment income to help qualify.

The FHA loan is the best loan today to buy a house with a small amount down. Here is a review of some of the highlights:

FHA loans are not credit score driven, even if you think you have bad credit you may qualify
Only 3.5% down required and that can be a gift from a relative
The seller is allowed to pay all your closing costs
Flexible underwriting standards
3.5% down also on duplex, triplex and fourplex properties
Loan amounts up to $729,000 in many areas

Please give me a call at 858-922-7899 if you have any questions or don’t hesitate to email me at homeloan8@gmail.com.

Warm Regards,

Rob Chomentowski

Sr. Loan Officer (and FHA specialist)

858-922-7899

homeloan8@gmail.com