Do you have a "derogatory remark" on your credit report for a Foreclosure, Shortsale, Deed-in-Lieu, Bankruptcy, etc? Previously the Federal Housing Administration (FHA) required a three year waiting period after these circumstances before they would lend again. This week, they lifted that waiting period, you just have to qualify. The FHA guidelines are pretty straight forward, such as minimum credit scores, debt-to-income ratios, verifiable income and a down payment minimum of 3.5%.
If you would like more information about FHA loans and the full list of qualifications, contact Lynsie.