This article is old news, but should be reiterated again and again.  As the options for loan programs becomes less and less, FHA loans may be the way to go.  I happened to start mentioning this option to clients several months ago when the credit market started to dry up, but now is a good time to follow up with it again.  Keri Shepherd, of IndyMac Bank, actually turned me on to them as a proactive way of helping Buyers stay ahead of the mortgage game. 

If you don’t have a large down payment, have some quesitonable credit scores, or need to keep your closing costs down through credits, this may be an option for you.  Check out the FHA flier for more info and contact me if you have additional questions. Luckily, I work with some great lenders and can put you in touch with some to answer your specific questions.

If your credit is weak or your savings anemic, here are two phrases you’re likely to hear from mortgage loan officers in the next few years: FHA and mortgage insurance.

They’re part of a back-to-basics theme that was emphasized Monday at the annual conference of the Mortgage Bankers Association in Boston.