Comments on: Home Buying 101 - Step 7: Other Loan Programs

By: Steven

Steven — Mon, 21 Sep 2009 22:43:56 +0000

Thanks for the useful article.Those CHFA, FHA and other loan types are the real headache for me. It is hard to understand all those bureaucratic rules and documents. But thanks to your article, with it’s help everything is more clear for me now. I will definitely bookmark your web and look forward to another great articles.

By: Eric

Eric — Sat, 28 Feb 2009 14:23:51 +0000

Also noticing for example the Connecticut Housing Investment Fund (CHIF) Energy Conservation Loan (ECL) progam income limits are much higher for most people than CHFA. For example CHIF ECLs are available to three person households with average IRS adjusted gross income over the last two years of $145,980. http://www.chif.org/index.html

By: berealct

berealct — Mon, 25 Feb 2008 13:23:15 +0000

I think with CHFA you either qualify or don’t - there is no higher rate for one person based on their credit.

The credit score may not be the issue - it will definitely be when the person foreclosed. With CHFA, you must not have been the owner of another home in CT for at least three years.

I would have the person call a CHFA lender to get pre-approved. That’s the only way to know for sure.

By: Nathanael Stover

Nathanael Stover — Sat, 23 Feb 2008 19:10:38 +0000

Hello, I was doing a quick search on what rates are available for someone rebuilding after a foreclosure.

If someone had a foreclosure 3 years ago and now has a 660 FICO, do you know what sort of rate they could get?

Could they get a CHFA loan at 5.625%?

Thank you.

By: Leo Namiot

Leo Namiot — Fri, 06 Apr 2007 01:25:12 +0000

Can I mail you some information? If so what address is good? Please drop me a e-mail and if you want some more information.
LeoLends@yahoo.com

With the sub prime market falling apart I have some great alternatives to help get buyers into homes.

By: berealct

berealct — Sun, 25 Mar 2007 14:03:17 +0000

Thanks for the comment. I’ve done a numner of deals with 100% and the DAP but none with renovation loans. Is this CHFA? Owner-occupied?

When you get a chance, I’d love to get some additional info on this.

By: Leo Namiot

Leo Namiot — Sun, 25 Mar 2007 01:35:12 +0000

Don’t forget that you can also offer 100% FHA financing with DAP programs and renovation loans with up to 110% of the after improved value. These are great tools I use to help people buy homes and get 100% + financing at great rates and since FHA is not FICO score driven this opens up the playing field!

Leo Namiot
Well Fargo Home Mortgage