Displaying items by tag: Loan requirement changes

The FHA has typically been a good avenue for first-time home buyers, allowing buyers that have less than perfect credit, very little money down, gift money from family members, explanations about credit problems that other lenders would balk at, or a high ratio of debt compared to their income, be able to purchase a home.  However, the FHA announced at the end of January that they are making changes to their program in order to lessen the number of FHA foreclosures.