I neglect my blog, it’s true. But it’s time for another installment since I got the urge. Today’s post is to glorify FHA loans for borrowers with less-than-perfect credit, little credit history, high debt-to-income ratios, or little down payment funds available.

Since my last post a year ago there have been vast changes in the mortgage industry. You are probably already aware of the fact that an entire section of the market is completely gone, being subprime loans. It’s a big factor in the current economic conditions we’re seeing in our country. That being said, FHA loans are about as good as you can get for less-than-perfect loan applications.

Don’t worry if you aren’t sure what an FHA loan is. If you feel like getting all the details, go ahead and visit hud.gov to get more info or drop me a line and I’d be happy to walk you through the basics. The most important part for borrowers is that FHA loans offer flexibility while basically nobody else does. Rates are just about the same as a conforming 30 year fixed rate to boot.