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There are several major benefits for choosing an FHA Mortgage Loan if you’re a First-Time Home Buyer in Chicago.

There have been several changes by HUD to the FHA Mortgage approval process over my 18 years experience as a mortgage professional.

However, the main benefits that FHA provides borrowers have remained consistent:

• Max LTV 96.50% based on purchase price – not including financed MIP (Mortgage Insurance Premium)

• Low monthly mortgage insurance, with no adjustments due to low credit scores

• Less conservative credit requirements/scores, with no adjustments to interest rate

• Gift funds of 100%

• Flexible Asset Sources

• 6% seller contribution

• Non occupying co-borrowers allowed

• Most investors do not have declining market policy for purchase and rate/term refinance

• Manual underwrite allowed

There are many other benefits with choosing an FHA mortgage loan, and I’d love an opportunity to share my experience with you.

Keep in mind, current legislation and lending regulations are frequently changing, so please contact me for a quick preview of your unique scenario prior to moving forward with a purchase or refinance transaction.

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Top 3 Chicago FHA Mortgage Articles:

• Congress Expands and Extends The First-Time Home Buyer Tax Credit
• Banks Raise Mortgage Qualification Standards
• Video: How To Find Good Deals As Buyer’s Market Comes To End

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Steve Levitt

Chicago FHA Mortgage Expert

Get Started Today:

a) Fill out my online application

b) Call me direct to discuss options @ 800-921-2430 – Steve Levitt

c) Email me your questions: steve (at) stevelevitt.com

If we close on your new home, BY JUNE 30th, 2010, we will pay for your appraisal and credit fees.