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Phoenix Real Estate and Homes for Sale | Jonathan Dalton, Realty ONE Group – (602) 502-9693

Jonathan Dalton
REALTOR
ePro, SFR
602-502-9693

FHA

FHA Throws Lifeline to Would Be Buyers With Short Sales and Foreclosures

Yesterday, FHA announced that it was cutting the timeframes which some qualified would-be buyers who had gone through a short sale, foreclosure or bankruptcy would have to wait before purchasing another home. “FHA recognizes the hardships faced by these borrowers, and realizes that their credit histories may not fully reflect their true ability or propensity to repay a mortgage,” said FHA Commissioner Carol Galante, in a letter to mortgagees announcing the changes. Until the announcement, buyers would need to wait two years after completion of a bankruptcy or three years after a short sale or foreclosure before they would be […]

FHA and VA Buyers – Think About New Builds

Here’s the basic reality of purchasing a home with either a VA or FHA loan. It’s bloody difficult in this market, especially under $175,000. Why? It’s rather simple … Multiple offers are the norm and, if someone else comes in with cash, an FHA or VA offer is DOA. FHA offers often have seller concessions to closing costs attached which, when placed side-by-side with a conventional loan, renders a FHA or VA loan DOA. VA loans come with additional costs to the seller. So, while these offers often are golden – it’s hard not to get a VA loan approval […]

FHA Home Buyers – The News is Getting Worse

Here’s a little known (dubious) fact … In the original script for Groundhog Day, the character played by Bill Murray was supposed to be an FHA appraiser, not a weatherman. The studios, however, felt it would be difficult for the public to relate to the all-too-real scenario of an FHA appraiser trapped forever in the past. Think it’s just fiction? Ask anyone trying to purchase a home in the Phoenix real estate market by using FHA financing whether the appraiser for their loan has any idea what year this is. From the Phoenix Business Journal this week … Median single-family home […]

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