Why FHA- with your Credit Score

Why FHA- with your Credit Score
Did you know FHA loans has been around since 1935? That is
pretty amazing if you think about it, this type of loan has
been around since right after the "Great Depression." Also
a added benefit of FHA is that it does not have credit
score requirements. With the current lending market and
tighten up on credit scores it makes perfect since to look
at a FHA loan. Depending on where you are going to buy will
determine the max loan amount you can get with FHA. Yes,
FHA loans have loan limits. Here is a link where you can
look up loan limits by state and city.

Secondary Market Credit Score Requirements
With all the foreclosures going on, banking has made
changes as to what type of loans they will buy. FHA does
not have a credit score requirement to insure a FHA loan,
but the banks that buy the loans do. For example, most
lenders underwrite their loans, and then sell them on what
is called the secondary market. This is a market where
banks buy and sell mortgage loans. The current credit score
requirement with this market is a 580 credit score. So if
you have this type of credit score, you might qualify for
FHA mortgage.
This type of score is not considered the best of scores,
but could get you in a 30 year fixed mortgage. Your
interest rate will be higher because of you credit score,
but it's better than renting. Typically credit scores above
a 680 is considered good credit, so if you were wondering,
that is the where you should be.
Here is a credit score breakdown per "My FICO."

* Excellent: over 750
* Very Good: 720 or more
* Acceptable: 660 to 720
* Uncertain: 620 to 660
* Risky: less than 620

Advantages of FHA
Obviously FHA's biggest advantage is you can get financed
with fairly low credit scores. You don't need great credit
history that is required with Conventional loans. Here are
some highlights to secure a FHA loan
- 3 lines of credit reporting on your credit report in good
standing for the last 12 months
- If you don't have any credit, FHA requires 2 months
mortgage payment in bank after closing
- Good 12 month rental history
- 2 years work history.
- You can count college as work history, underwriters like
to see that you graduated, and are working in profession
studied.
- Only 3% down payment, you can use Down Payment Assistance
in place of this.
- No credit score requirements
- 30 year fixed mortgage
- Competitive rates

FHA is not only for individuals with bad credit. This loan
is for people with good credit as well. If you have a 720
credit score, and don't want to put down a bunch of money,
it makes perfect since to go FHA, as long as you are trying
to buy within the FHA loan limits.

If you are in the market to buy, and you are not sure where
your credit score stands, find out. Pull a copy of your
credit report with credit scores. A educated consumers
saves on interest rates and terms.

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About the Author: Mike Clover is the owner of
http://www.creditscorequick.com/ . CreditScoreQuick.com is
the one of the most unique on-line resources for free
credit score report, fico score, Internet identity theft
software, secure credit cards, and a BlOG with a wealth of
personal credit information. The information within this
website is written by professionals that know about credit,
and what determines ones credit worthiness.

Tips for Selling Your Home

Tips for Selling Your Home
Are you about to sell your home or thinking about it?
Before you go ahead and take the plunge you should do
whatever you can to prepare your house so that you get the
best possible price. If you make a systematic survey of
your property and follow it up with some simple cleaning,
repairs and alterations it can make a big difference. The
difference can add up to thousands of dollars so it pays to
pay attention to this preparatory work. Let's take a look
at what is involved in getting a home ready for sale.

There is an old expression "The first impression is the
last impression." So, put yourself in the place of a
prospective buyer and ask yourself what impression would
this buyer get if he or she looked at your house? Try to
keep the viewpoint of the buyer in mind and then correct
any item that would spoil the impression or put someone
off. This is the general idea, and now let's take a more
detailed survey of what has to be done.

As I said, "the first impression is the last impression,"
so it is good to begin with the exterior of the home
because this is what the potential buyer will see first.

Mow your lawn, trim the edges of the lawn and tidy up all
the landscaping around the house. Your house may look
beautiful but if it is framed by an untidy lawn and garden
people will get a bad first impression. In some cases they
may not even get to see your house because shrubs and
bushes are covering everything. So get out the lawnmower
and trimmers and get to work, or get your landscaping
service to give your yard a through tidying up.

When you are finished with the garden work, put away all
tools, garbage cans, hoses, toys and other materials. Put
them neatly into your tool shed or garage.

Continuing with the exterior of the home, make a survey of
important structural items. Are there any broken tiles or
shingles on your roof or siding? If so, fix them.
Similarly, make sure that the gutters are aligned properly
and the windows and door are clean and tidy. Paint your
front door if necessary.

What about your driveway? Does it need to be resurfaced or
resealed? If the answer is yes then get this work done, and
while you are at it make sure your patios, terraces or
decks are in good condition and tidy as well.

Once the outside is in good shape, walk into your home and
look around.

In your entrance foyer or hall be sure to place a bright
bulb. Paint the walls if they are looking worn. Clean the
windows, woodwork and carpeting and place some natural
scents throughout your home. Don't worry if you have to
spend some money on paint or cleaning, you will recuperate
it and more when you sell your house.

The living room is one of the key areas of any home and you
should make it look inviting by getting rid of worn
furniture or of extra furniture. Clear away magazines,
books and other objects that create a cluttered,
disorganized look. If the room is too dark, then add more
lamps and keep the curtains open.

Once you are satisfied with the living room, walk into your
kitchen and look around. Unless your appliances are new, it
would be a good idea to get your oven and stove
professionally cleaned. Clean all your other appliances
and wax or polish your floor. As in the living room, take
away magazines, appliances, and other objects that give a
cluttered look.

Another key area which comes under a lot of scrutiny is the
bathrooms. Clean them thoroughly and fix leaky faucets and
bad plumbing. The sinks, bathtubs, commodes, tiles and
shower curtains should be impeccably spotless. Place color
coordinated towels in the bathrooms and get them looking
like model bathrooms.

Do you have a family room? Make it look inviting by
cleaning it and removing extra objects that create that
messy look. If you have a fireplace be sure that it is
clean and tidy looking. If you have an unfinished basement,
see that the concrete floor is well-swept. Clean the water
heater and put strong bulbs in all light fixtures.

In your bedrooms the main thing is to make them appealing
by neatly arranging your clothing. Your closets will look
bigger if you remove your off-season clothing and store
them somewhere else. You are going to move anyway, so you
may as well get them packed up now. It may be more
difficult to straighten up your children's bedrooms, but
ask your kids to clean up their rooms and get them looking
neat and presentable.

If you have other areas that are not covered by this
survey, the same principles apply: Look at them as if you
are a prospective buyer and make the adjustments that will
create the best possible impression.

Don't be afraid to invest time or money in preparing your
house for sale. Remember, you have one chance to make a
good first impression and whatever effort you put into
improving the look of your home is likely to be returned to
you in the form of a higher selling price. So, if you are
serious about selling your home, roll up your sleeves and
get to work.

----------------------------------------------------
Hamed Mahmood Salehi is a Toronto Real Estate Broker. His
website

http://www.FindYourHomeValue.ca/

offers great
tips for home buyers and sellers, free home evaluation,
real estate news and information about Toronto home values.

Forex Trading & Dirty Harry

Forex Trading & Dirty Harry
In the Film "Dirty Harry" starring Clint Eastwood, the
character Dirty Harry has a villain in the sights of his
famous magnum hand gun.

A few inches away from the villains hand is the villains
gun.

It's a tense moment in the film while the villain decides
whether to go for his gun on the assumption that Dirty
Harry's gun is empty - or to surrender.

Dirty Harry then utters the immortal line "Are you feeling
lucky punk, well are you?"

Of course, Dirty Harry knows that he [Dirty Harry] has an
extremely high probability of a successful outcome to this
encounter.

A common thread amongst many novice (and some not so
novice) traders is that have been placing trade after trade
and at the end of the day/week/month they are not doing as
well as they expected.

Does this ring a bell?

One of the greatest myths in trading is that an "active"
trader is one who spends their entire trading day placing
trade after trade.

Some even believe that the "active" trader places trades on
several different currency pairs simultaneously and as soon
as one trade closes they open another.

Many novice traders spend their whole time looking for
trading opportunities and become very dismayed if they
cannot find one - believing that the market should somehow
provide the ideal opportunity for them whenever they desire
to trade.

These are the very myths and miscomprehensions that cause
many novice traders to produce poorer results than they
would have wished for.

In truth, the active and successful traders are the ones
who spend their trading time studying the charts, assessing
the possible impact of pending news releases and watching
for all of their indicators to move into perfect harmony.

Then they start looking for reasons NOT to trade.

Yes, I'll say that again - They start looking for reasons
NOT to place a trade!

If after looking for reasons NOT to place the trade, they
cannot find any, then they know that this will be a high
probability of success trade.

Then, and only then, they enter that trade. Successful
active traders understand that opportunities need to be
watched and waited for.

They understand that great opportunities regularly come
along, they just need to be ready to take advantage of them
when the time is right.

Successful traders know that they cannot force the pace -
the market dictates and they respond, but they only respond
when the conditions are as near perfect as can be expected
in the forex market.

Does this take a lot of self discipline and self control?
Yes.

Does it make a lot of difference to their overall trading
performance? You bet it does.

Next time you believe that you are ready to place a trade,
try looking for reasons NOT to place that trade. You will
be amazed at the difference that this procedure will make
to your trading.

In future, before you pull the trigger, you need to have
the assurance of knowing that you have the highest
probability of success - just like Dirty Harry had - and to
not be asking yourself "am I feeling lucky punk, well am
I!!!"

----------------------------------------------------
Martin Bottomley is a full time professional forex trader,
acknowledged author, forex tutor and co-developer of forex
trading software including The Amazing Stealth Forex
Trading system.
You will find more information at:
http://www.stealthforex.com