Buyers who are prepared to
qualify for FHA loans may gain the benefits the unprecedented intersection of favorable home prices, interest rates, comparatively
lenient FHA
guidelines, and a tax credit of up to $ 8000 for first time buyers or $ 6500 for eligible current and former homeowners.
With the FHA One - Time Close Loan, homebuyers can also take advantage of the agency's
lenient qualifications, such as easy credit
qualifying for scores, more flexible
guidelines for homebuyers» work histories, small escrow reserve requirements, and debt - to - income ratios up to 50 percent.