All articles about TIPS FOR FIRST TIME HOME BUYERS

FAQ – What is the FHA Gift Funds Section 1010 Verbiage

FHA Underwriting Tip;

FHA allows a borrower to meet the minimum statutory investment by using gift funds from either a close family member, government agency or approved non profit.
FHA requires that all gift letters include the section 1010 verbiage below –

Rent payments now appear on Experian credit reports

Even if you use traditional credit very little, now you can build a good history by having your rent payments reported to the credit bureau. Continue reading Rent payments now appear on Experian credit reports