FHA loans make comeback
Many first-time buyers qualify with lower credit score, smaller down payment
By Ilyce Glink, Wednesday, May 28, 2008.If you're a first-time home buyer, you'll find it a little harder to qualify for a mortgage than the first-time buyer who walked in your shoes two years ago.
The credit crunch on Wall Street and record foreclosure rates have made investors nervous about home buyers who have small down payments and lower credit scores.
While the number of first-time buyers is down, there are plenty of folks who are tempted by falling home prices and low interest rates. What kind of loans are out there for them?
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