Everyone agreed: FHA’s policy change won’t help many projects or consumers who want to buy or sell units. Christopher L. Gardner, managing member of California-based FHA Pros LLC, told me the 20.
Is Fha Loan Good But FHA loans can be a good option for those with bad credit and little set aside for down payment who are determined to get a mortgage. FHA Loans Hugely Popular with First-Time Buyers Chances are if you’re a first-time home buyer, you’ll use an FHA loan over a conventional loan.
· The effective date of this change is after June 30, 2016, but lenders may start using the new policy immediately (for FHA case #’s ordered on June 30th, 2016 or before, and for existing FHA case #’s that have already been ordered, meaning loans currently in process can be subject to this change).