FHA Loans Help First Time Buyers.

The expansion of FHA conforming loan limits to $729,750 has greatly helped REO and foreclosure home buyers in Los Angeles. There are also programs that allow for the seller to give up to 6% of the purchase price to the buyers to apply to expenses and closing costs. Other programs allow buyers to have up to 60% debt to income ratio.

The 203(k) program is great for buyers who are still buying fixers. This program loans you additional funds to make repairs on a property up to four units.

FHA loans can take a little longer to process so get PRE-APPROVED NOW to be ready when that perfect REO or foreclosure property comes up.