FOR IMMEDIATE RELEASE
Contact:
Jessie Eide
Realtor
EXIT Realty Foothills
909.593.0502
admin@ourexitteam.com
EXIT Realty Foothills Reports on FICO & FHA Guidelines
Two Big Lenders Loosen Up their Requirements
La Verne , Ca (Grassroots Newswire) 2/2/2011 --
The loan of choice for first time home buyers has definitely been the FHA program, especially those who don't have much down payment. For those who are trying to get into a home but have not been successful there is some good news coming your way! The FHA guidelines have loosened a bit, and are opening the door to those that may not have qualified before.
There were no announcements, but the two largest FHA approved lenders have eased up on their requirements. Both Wells Fargo (the largest FHA originator) and Quicken loans (third largest originator) authenticated to Inman News that they will be lending to applicants with 580 FICOs and 3.5 percent down payments. These revised standards are in line with FHA's own minimums, and opens doors to finance a large number of perspective buyers who have not qualified in the past because of unfavorable credit scores.
For more information about EXIT Realty Foothills, please call 909.593.0502. EXIT Realty Foothills is located at 1339 Foothill Blvd, La Verne CA 91750.
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