Get Back into a Home with FHA Back to Work Program
May 15th, 2014
May 15th, 2014
Did you lose your home to a foreclosure, deed in lieu of foreclosure or bankruptcy? Was the loss of your home due a job loss or reduction in your income? Are you now back to work and want to purchase a new home, but fear you may not qualify for a home loan?
The Federal Housing Administration (FHA) wants to give qualified individuals a second chance at owning a home – even if their credit histories were negatively impacted by recession-related economic hardships. With the “FHA Back to Work – Extenuating Circumstances” program, qualified borrowers can obtain a mortgage loan if they have re-established a responsible credit history and can document the extenuating circumstances behind their job loss or income reduction.
Minimum eligibility requirements of the FHA Back to Work program
To qualify for the FHA Back to Work program, you must meet several eligibility requirements:
Get Back on Track and in a Home
The FHA Back to Work program enables first-time or repeat home buyers to apply for a home loan in as little as 12 months following the loss of your home. You don’t have to wait the standard 3 years after a foreclosure, short sale or deed-in-lieu or the traditional 2 years after a bankruptcy before you can qualify for a loan.
If you’re interested in applying for an FHA Back to Work – Extenuating Circumstances mortgage loan, contact the mortgage specialists at Grandview Lending in Indianapolis at 866.690.4920. We can answer your questions, assess your situation and walk you through the process. At Grandview Lending, we want to help you get back on track and into your dream home.
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