Buyers Can Do Better Than FHA
Real estate professionals who do not make their clients aware of non-FHA options are doing them a great disservice. In this hot housing market, LMI buyers need more buying power, not less.
Real estate professionals who do not make their clients aware of non-FHA options are doing them a great disservice. In this hot housing market, LMI buyers need more buying power, not less.
While many financial institutions have seen success originating loans guaranteed by the U.S. Department of Veteran Affairs and Federal Housing Administration, the products face competition and challenges from rising home values and similar products created by other entities.
New underwriting standards at the Federal Housing Administration fueled by worries over declining loan quality are threatening to restrict access to FHA loans for riskier borrowers across the country. Local lenders say new products from Fannie Mae and Freddie Mac may have contributed to the situation.