There is money to borrow to be able to purchase your first home or condo. The pendulem has swung back to a more traditional method of lending; a borrower has to have good credit, a steady income that can be verified and overall be a good credit risk. For several years not too long ago all you had to do was be breathing in order to get a loan.
The program was little used over the last 8 years or so because of the many possible loan programs (500+) that were on the market. Now that there is a more reasonable amount of programs (30-40) on the market FHA has made a strong comeback.
The FHA program takes a little up-front work but once you are approved the rest is pretty easy. It requires only 3% down (that will change to 3.5% on 1/1/2009) making it easier to buy a property will less money out of your pocket.
Please feel free to contact me for more details.
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