One of the biggest takeaways from our “Mortgage 101” Seminars is to hold FHA offers in higher esteem. Here are a few reasons why:
- Speed: FHA Financing does not take longer than other types of financing. Skilled lenders can often close FHA loans faster than other types of loans. We have no trouble closing them in 17 days in fact.
- Condition: FHA financed properties do not need to be in better condition than conventional properties. Many Realtors falsely believe they do b/c FHA used to require clear Section I reports, but that requirement disappeared years ago. FHA allows for “As Is” purchases.
- FHA is the most flexible when it comes to credit, debt ratios and down payment funds. This is one of the main reasons why we can close them so quickly.
If you are making FHA offers, be sure to have us call the listing agent so we can guarantee a fast close and explain FHA’s benefits. If you are a Listing Agent accepting offers, don’t be afraid of FHA buyers – they are often stronger than you think.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646