Many people in Plaquemine, LA have problems getting the loan they need to purchase a home. Obtaining a mortgage loan shouldn't be a difficult issue if you have the right guidance. There are many companies out there that bombard people with many different loan offers every day. But not all lenders can provide the kind of service you need to obtain the loan you need.
If you are in the Claiborne LA and are looking for a reliable mortgage lender to help you get the loan you need to buy a new home, you are in luck. You can now get the help and guidance you need to obtain the money for a home. The most trusted mortgage lender in this area, Sun Mortgage Funding, has loans programs such as FHA loans available that you apply for.
FHA loans are popular for helping people with poor credit or low income purchase their own home. Although the requirements are not as strict as conventional loan programs, you are still required to meet the requirements of the FHA loan program in order to qualify for the loan. One of the requirements is that you must show evidence of a steady income for a minimum of two years before you can qualify for this loan. Also, you should have a decent credit score, though some people with poor or no credit can still qualify under certain conditions. In addition, past credit issues, such as foreclosures and bankruptcies, should be several years old.
In addition to steady income, you will need to show that your income has been the same amount or has increased within the past two years. They see this as evidence that you will be able to make the mortgage payments on time every month, since you are unlikely to be unemployed any time soon.
You can have a poor or fair credit score and still qualify for an FHA loan program, unlike other types of loan. In fact, you can get approved even if you have no credit, and you may end up using your FHA loan to start establishing your credit. Of course, you can usually be expected to make up for your lack of credit in some other ways. As an example, you may be required to come up with a higher amount for down payment, or prove that you have a decent income despite your poor or no credit status. You may also be expected to prove that you have a good debt-to-income ratio, which indicates that your income is far more than your expenses.
If you need a reputable lender that can help you get the mortgage loan you need, then you should contact Sun Mortgage Funding for guidance. Once you get the loan you need, you can go ahead and buy the home you want.
FHA loan program is available to help people buy a home. The requirements are less strict than other types of loans.