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Trust and stability are essential commodities for current and potential home buyers. No amount of gimmicks or sales presentations can overcome this one irrefutable fact. Without an honorable professional who speaks candidly, advising clients about financial obstacles and opportunities; danger will strike. Avoiding these risks requires wisdom, patience, independence and an inquisitive mind. Mayer Dallal represents the union of these principles; leadership wed to experience. Mayer Dallal is committed to demystifying the world of mortgage financing for home buyers and those who wish to refinance their current mortgage.
As the Founder of FHA LOANS NOW, Mayer Dallal applies these strengths on behalf of individuals and families who want to realize the promise of home ownership. Mayer Dallal’s philosophy is that people deserve to fully understand the way mortgage financing specifically FHA guidelines and FHA loan requirements operate; distinguishing between FHA loans versus Conventional loans or variable rates versus fixed terms. The expert knowledge behind FHA LOANS NOW is what separates Mayer Dallal from the competition. His insight is the result of market intelligence. You won’t find fads or inflated promises here that collapse during economic upheaval. Mayer Dallal has a deep understanding of FHA guidelines and FHA loan requirements. He is a teacher and a mentor who recognizes the benefits of FHA loans as a smart financing option that is ideal for a diverse group of borrowers. Mayer Dallal
With FHA financing, individuals and families have a new sense of freedom. With Mayer Dallal’s guidance, and a knowledgeable support team, borrowers can experience the freedom of taking a loan that makes sense. Here lies the key point: that current and potential home buyers can, and should take advantage of historically low interest rates, with the help of FHA LOANS NOW.
This undertaking is a collective effort, a partnership Mayer Dallal shares with everyone he counsels. With kindness and professionalism, Mayer Dallal brings people home; literally. By making home ownership a reality, FHA LOANS NOW can do the same for countless other individuals. Indeed, no other site is as comprehensive or helpful, with accurate information! You need FHA LOANS NOW!
Take a moment to explore the site. You will be able to use our FHA loan calculator to determine what you can afford, and learn more about the FHA loan limits in your area. Call Mayer Dallal directly at 1-800-871-9326. You can also email him at mdallal@fhaloansnow.net
Mayer Dallal is the only expert in this industry who will offer candid advice, enabling current or potential home buyers to make the right decision. No gimmicks, no sales calls, and no false promises. What you’ll find here are transparent, intelligent people that you need NOW! Call him today at 1-800-871-9326 or email him at mdallal@fhaloansnow.net.
FHA Programs
FHA loan programs were created to help people in the United States obtain homeownership, an integral component to the American Dream. This remains the goal of FHA today.
Credit History
The FHA first time home buyer loan, FHA purchase loan, FHA refinance loan or FHA loan or FHA loans approval process is based on the philosophy that past credit history demonstrates most effectively a borrower’s attitude towards paying their bills and credit obligations. With that said, FHA guidelines do allow for more tolerance regarding past derogatory credit history, but previous poor credit performance must be accompanied by reasonable, thorough letters of explanation from the borrower.
Capacity to Repay
When an FHA underwriter cites Capacity to repay, he or she is referring to a borrower’s anticipated amount of income and the likelihood that it will continue. As such, FHA loan guidelines call for the evaluation of the source of a borrower’s income to ensure that it can be verified, that it is stable and that it has a high likelihood to continue.
Salaries, Wages and Other Forms of Effective Income
Salary and Hourly Wages: When analyzing the stability of the current income for a salaried or wage earning employee, FHA underwriters examine the prior two years to assess the stability of the current income. If earnings are similar or increasing at a normal rate, they will most likely use the current base income.
Cash to close
Cash for Down Payment and Closing Costs: Beginning January 1, 2009 The Housing and Economic Recovery Act of 2008 revised the National Housing Act to: Require that the FHA borrower “shall have paid, in cash or its equivalent.
Collateral
Collateral is referred to the value of your home. A licensed FHA appraiser must appraiser the property and the appraisal must be no older than 90 days from the date of closing. The value that the appraiser asses’ to your property will determine the loan amount and the loan to value of your new loan. A second appraisal is required on any loan amount over 417k, at 95%, and is in a declining market (all of the United States is presently in a declining market). On a 1 family home a drive by is required on any other property type a full appraisal is required as second appraisal.
