Stylecraft's Blog
Wednesday, January 19, 2011
FHA loans make it easy to buy a home now
Are you one of the tens of thousands of renters who have avoided buying a new home because you don’t think you can afford the mortgage?
Before you continue to throw away a hefty portion of your paycheck every month, get the truth about the process of buying a new home. The Federal Housing Authority (FHA) makes it easy to buy a home. If you can afford to pay rent, you probably can afford a mortgage payment. In many cases, the mortgage payment turns out to be less than the monthly rent. Plus, you get the tax advantages of home ownership, and the added value of having an investment, as opposed to a rent expense.
FHA loans require only a 3.5% down payment. If you’re looking at a $130,000 home, that’s just $4,550 down. Compare that to a conventional loan that could require as much as 20% down.
Plus, the FHA loans are more lenient with credit scores. You can qualify for an FHA loan with a credit score of 640.
Here are a few more things you should know about FHA loan requirements:
- You need two years of steady employment, preferably with the same employer.
- Your income over the past two years should be the same or increasing.
- Your credit report should have less than two 30-day-late notations in the past two years.
- Bankruptcy must be at least two years old, with perfect credit since then.
- Your new mortgage payment should equal approximately 30% of your gross income (before taxes).
Click here to learn more about qualifying for an FHA home loan. Then talk to us at Stylecraft Builders to see how you can put that investment toward a new home that will deliver even greater returns!
Labels: buying, credit score, FHA loans, home, loan requirements, mortgage payment, new home, Stylecraft Builders, tanner brewster
Wednesday, January 12, 2011
How do you feel about Stylecraft Builders???
We would love to see your drawings! Send them to tabrewster@stylecraft-builders.com or post them on Facebook.com. We wish you the best for 2011!!!
Stylecraft Builders
Labels: facebook, Stylecraft Builders
Archives
- March 2009
- April 2009
- May 2009
- June 2009
- July 2009
- August 2009
- September 2009
- October 2009
- November 2009
- December 2009
- January 2010
- February 2010
- March 2010
- April 2010
- May 2010
- June 2010
- July 2010
- August 2010
- September 2010
- October 2010
- December 2010
- January 2011
- February 2011
- March 2011
- April 2011
- May 2011
- June 2011
- July 2011
- August 2011
- September 2011
- October 2011
- November 2011
- December 2011
- January 2012
- February 2012
- March 2012
- May 2012
- June 2012
- July 2012
- August 2012
- September 2012
- October 2012
- November 2012
- January 2013
- February 2013
- March 2013
- April 2013
- May 2013
- June 2013
- July 2013
- August 2013
- September 2013
- October 2013
- November 2013
- December 2013
About Me
- Name: Stylecraft Builders’ Blog
- Location: College Station, Texas, United States
Welcome to Stylecraft Builders, Central Texas' Premier New Home Builder. Since 1986, Stylecraft Builders has designed and built new homes and communities with its reputation based on integrity, honesty, value and style. With ideal locations in Brenham, Bryan, College Station, Hilltop Lakes, Huntsville, and Waco, come see why we are Central Texas' New Home Builder. Welcome to your New Home.
“Welcome to Stylecraft Builders, one of Central Texas’ premier new home builders. Since 1986, Stylecraft Builders has designed and built new homes and communities with its reputation based on integrity, honesty, value and style. With ideal locations in Brenham, Bryan, College Station, Hilltop Lakes, Huntsville, and Waco, come see why we are The “YES!” Builder. Welcome to your New Home.”
Connect with Us: