Monday, October 20, 2008

Can I Still Get a Loan?

In a word - yes. Even in these horrible economic times, banks are still making home loans. But the days of signing your name on an application and walking out of the bank with a check are over. Banks are back to wanting to see 20% as a down payment and credit scores 720 or above.

If you can't meet these requirements, don't give up. FHA offers loans with 5%, 3% and even 0% down payments. They have special programs for teachers and police officers, as well as programs for low income borrowers.

For more information, look at their website. It outlines all their programs and requirements. You can even apply on line.

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