FHA (Federal Housing Administration) Baton Rouge Home Loans

FHA (Federal Housing Administration) Home Loans

Let’s have a look at these points first:


  • Creditors, who have a blemished credit history, can find their savior in FHA. With new programs those are out, allowing the borrowers who have a credit card score in the 500 range to buy a home for themselves.
  • In case of Bankruptcy, one should not lose all hope as FHA allows such clients a loan for two years from the bankruptcy date discharge, so long one has maintained good credit since their debts were discharged.
  • Foreclosure: Even after a foreclosure, there is a ray of hope from the FHA if one has maintained their credit in a good enough shape. The FHA avails a lone for a period of about two years from the date the foreclosure was finalized.

•·         There is also a provision of purchase of manufactured homes and condominiums.

  • FHA appraisals do not take the place of a home inspection. Buyers are advised to get the inspection done by a professional.

So we see that these are the little-known facts about FHA.

Times are such that every one of us has to deal with the soaring prices of grocery, gas and other daily consumable items. Similarly, potential home buyers are also facing the heat. Many people are stuck in between, neither being able to sell their current property, nor applying for a mortgage due to the fear of implementation of stricter rules and requirements.

Also, credit availability has also been tightened as most of the banking institutions are now looking for methods for reduction of the risk involved in these transactions.

But, despite of all the frustrations and apprehensions, many local realtors are of the thought that many buyers are considering homes which were in recent times out of their reach. All this is credited to the recent FHA guidelines and lower interest rates.

There used to be a time when the sellers were wary of the FHA home loans as the repair demands were excessive. So they would choose the buyers who would obtain the conventional loans over FHA. But the scenario has changed over time and the requirements have become more realistic and reasonable.

The US Government has also been behind this change of scenario as the FHA has its backing and the measures such as those of elimination of a mandatory 90-day flipping a house rule and the expansion of the types of homes that can now be purchased, take condos for example, have been welcomed with warmth. Also the loan limits have rose significantly which only adds to its advantages.

It’s about time you took the advantage of the FHA loan!

Author Biography

Bill Cobb, CREA, with Accurate Valuations FHA Home Appraisal Group, has operated as a home appraiser for 16 years primarily in the Greater Baton Rouge, Louisiana market.  For more information on Bill Cobb, CREA and FHA Appraisers in Baton Rouge, visit: http://www.eastbatonrougefhaappraisers.com/ .   Also visit Bill Cobb’s Video Blog @ http://batonrougefhaappraisers.com/ .  

FHA (Federal Housing Administration) Baton Rouge Home Loans

FHA (Federal Housing Administration) Baton Rouge Home Loans

About Bill Cobb, Appraiser

The Baton Rouge Residential Appraisal Blog is an information source provided by local Home Appraiser, Bill Cobb, and Accurate Valuations Group. Bill has 24 years experience as a Baton Rouge Residential Home Appraiser and updates his local network of sites weekly with reports, videos and audio reviews of local housing market conditions! 225-293-1500

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