Qualifying to buy a home in Overland Park Kansas just got a whole lot easier. The Federal Housing Authority has just raised the limit on FHA backed loans to $270,000. What does this mean for buyer's? Well it means that you can qualify for a loan with a 3% down payment with credit scores as low as 550. Using FHA also allows you to aplly for grant money. The grant money can be used for your down payment and closing costs. Essentially you can buy a house with no money down and no closing costs.
For those of you sitting on the fence about buying a house, congress only passed this change temporarily. If you wait too long it might pass you buy.
Remember that FHA backed mortgages are market rate, so you will not have to pay a higher interest rate to make up for less than perfect credit.
Interested? I would be. Don't wait call The Russell Home Team today to see the great selection of homes available.
2008- The Russell Home Team 913-681-1383 www.MikeRussellhomes.com
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The Russell Home Team specializes in Johnson County Kansas Homes and Real Estate for sale. We are tech savvy realtors with over 10 years experience. Please join us on our Social Networking Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...
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