Loans can be underwritten by an approved lender which includes most of the major banks in the country. FHA has the some high loan limits as Freddie Mac and Fannie Mae (which have been extended to the end of 2010). You can buy a home with a 3.5 percent down payment as compared to at least 10 percent down for a Freddie Mac or Fannie Mae home. You can get your loan scored for approval through a variety of underwriting engines including Fannie Mae's Desktop Underwriter and Freddie Mac's Loan Prospector.
Linda Shank is a Real Estate broker in the Phoenix Southeast Valley Gold Canyon area. She can be contacted at www.ISellAZsunshine.com
Monday, January 25, 2010
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