2021 FHA Loan Updates! The difference between Conventional and FHA loans
There are some great changes to FHA financing taking place right now!! First and foremost, DACA status recipients are now eligible to apply for FHA financing! This is important because it allows people who may have hard a hard time getting approved for conventional loans to now apply for FHA financing.
There are questions you NEED to be asking your loan officer when buying a home.
1- compare MORE THAN ONE loan option. Ideally three or more will give you the opportunity to make an informed choice!
2- ask what you can do as a borrower to lower your payment and/or interest rate!!
3- compare your options based on the length of time you plan to spend in the home
4- ask about all the variables you can think of that might apply in the future! Future refi? Investment Property? Etc.
If your loan officer doesn't want to show you more than one option or help answer these questions, chances are they're not the right loan officer for you!!
If you have any questions, please reach out. My team and I are always here to help!
☎️ 480-818-6222
⌨️ [email protected]
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