Baton Rouge First Time Homebuyers: New FHA Home Loan Rules
Mortgage Relief Bill could help you buy a Baton Rouge home
There are many great programs out there that can help Baton Rouge first time homebuyers make a purchase. One of those has always been the FHA home loan program. And now, with new FHA home loan rules, it is possible for this program to help even more.
The new FHA home loan rules increases the amount that can be borrowed to $417,000. Additionally, the required down payment has been cut by half. In the Baton Rouge real estate market, this means that a wide variety of homes can be purchased with help from the FHA home loan program.
There are caveats, however. The FHA home loan program requires a certain level of creditworthiness, and debt-to-income ratio is taken into consideration.
For more on the FHA home loan program and other mortgage programs available when you buy a Baton Rouge home, contact Glenda Daughety.
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