If you’re like some families in the United States, you may have suffered a foreclosure because of a job loss recently. The economy sent many families into financial crisis, and unfortunately, foreclosures were much too common for a large percentage of our country.
Now that some time has passed, hopefully you’ve been able to recover a bit from your financial hardships during that time. Many families have found that a more stable economy, along with a growing number of available jobs have made it much easier for them to cover their expenses, and even get caught up on some of those older bills they weren’t previously able to pay.
If you’re thinking about buying a new house now that you’re back on your feet, you’ll be happy to know about a new type of FHA loan that’s available for people who are in your situation. It’s specifically designed for people who have gone back to work after losing a job and suffering through a foreclosure. As your Back to Work Lender, we’re excited to teach you about this program.
An FHA loan is different from other mortgages because the United States government insures the money. It’s a loan with more flexible credit score and income requirements, and it also requires a smaller down payment. With the Back to Work Program, you may be able to qualify for an FHA loan in as little as twelve months after your foreclosure and job loss, as long as you’ve recovered from your financial difficulties.
Here at 1st Alliance Lending, we enjoy being able to provide people like you a second chance at owning a home. We have an excellent sales team, and pride ourselves on our lending expertise. We will provide great service, with honesty, integrity and guidance. We understand that sometimes foreclosures and job losses happen, and sometimes there’s nothing you can do to prevent them. When you’ve worked hard to repair your credit and pay off your debts, we feel that you deserve a second look. Our team will work hard on your behalf, help you understand the FHA loan process and ease your anxiety about reentering the housing market.
We’d love to talk to you about the Back to Work Lending Program. For more information, please contact us today.