Topic: What Is The Difference Between Conventional Versus FHA Loans?
-
Eric is so right. FHA does allow for lower credit scores and has a shorter waiting period after bankruptcy. Other advantages of FHA include –
The ability to secure a home loan during a Chapter 13 bankruptcy after 12 or more onetime payments to the Trustee
Files can be manually underwritten if they meet the guidelines
Higher/more forgiving debt to income limits (46.9/56.9)
Downpayments as low as 3.5% on single family and multifamily homes