FHA Might Help In These Credit Situations

Loans from FHA-approved lenders (Federal Housing Authority) provide more flexibility than conventional loans.  Here are some of the things generally allowed in re-establishing credit via FHA loans:

  • If you went through foreclosure or deed-in-lieu, if 3 years have passed, you may be eligible
  • If you had outstanding tax liens, if you’ve arranged a repayment plan with Federal (IRS) or state tax authorities, you may be eligible
  • If you have judgements that have been paid, you may be eligible
  • If you went through bankruptcy at least 2 years ago, you may be eligible.

For borrowers with unusual credit records — for example, those who prefer paying in cash and carrying no debt — FHA may be an option.  Likewise, new or first-time buyers with little established credit should investigate FHA programs for assistance.

Talk to an FHA-approved lender to learn more.

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