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Housing Loan Programs - Do you qualify?

Housing Loan Programs - Do you qualify?

housing loans

Housing loan programs can help you get the home of your dreams.

There are many housing loan programs available to you to help you realize your dream of owning a home.  There are government programs offered through department of The U.S. Government Housing and Urban Development and through the Federal Housing Authority.

To qualify for any mortgage loan, you first need to have your credit in good condition. Several months before you begin the application process, request a copy of your credit score from the three top reporting agencies. Read it carefully and if you find errors, contact them immediately to have them removed. It may take several months to have them corrected.

If you are carrying a high balance on credit cards, pay them down as much as possible before you begin the process. If you have too much outstanding debt it will be difficult to get approved for a mortgage. The financial institution will check your total debt against your income to be sure you can afford a mortgage payment.

Do your research and check with any particular housing program you want to use to see what their requirements are. There will be different requirements as to the amount of your down payment, whether or not you are a first time home buyer as well as the amount of your income.

For more information about housing loan programs available to you call Midland Mortgage Corp. at 803.765.1680 or toll- free at 800.854.9484.
Posted May 17, 2012 by Midland Mortgage Corporation