1. You can still barrow close to 97% of the total home value. You will have to have 3.5% reserved for a down payment.
2. The barrower doesn’t have to have an established credit history.
3. FHA home loans can be used for new home purchase not just streamline refinance.
4. There are no minimum credit score requirements.  If you have 620 or more you are a candidate.
5. FHA has a 203(K) loan program for homes that are in need to be fixed up.  Great for investments.

Jennifer Lampe specializes in FHA loans, mortgage loans, and refinances loans in Surprise, Glendale, Peoria and most areas in Phoenix Arizona.   I am licensed to do loans in 48 states, contact me today for a free analysis.