The FHA Back to Work Program may be a good option for you if you’ve had financial difficulties in the past and are ready to start over with a new home mortgage program.
SteveKnowsLoans offers second-chance loans like these, and our helpful loan advisers are happy to advise you on whether or not a Back to Work loan is the best choice for your current financial situation.
Although these loans can be extremely helpful for the right borrowers, there are criteria that must be met before one is approved. We can learn more about your financial situation and address any concerns you have about this program during a consultation with one of our loan advisers.
To qualify for a Back to Work loan, borrowers must demonstrate that their credit or mortgage difficulties were unavoidable consequences of an unexpected financial setback rather than the product of their own negligence.
In addition, you must keep track of:
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- That you are in perfect financial standing at the moment.
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- Have rebuilt a solid credit profile.
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- Finally, HUD-approved counseling is required to qualify for these second-chance loans.
SteveKnowsLoans’ loan advisors will help you individually to ascertain your eligibility for this and other programs.
The Back to Work program is not a good fit for every borrower, but for the right ones, it can be a lifesaver.
Those with the following histories are best served by these mortgages:
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- Bank repossession
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- Declared bankruptcy
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- Sold short
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- Or have other major problems that are reflected in their credit report.
They allow you to get a mortgage despite having lower credit scores or having concerns on your credit report that would normally exclude you from other loan programs. You may have been denied a loan before, or you may be anxious about the prospect of being rejected when you apply for a mortgage.
Get in touch with us immediately if you’re curious about these loan programs or any others that may help you meet your financial obligations.
Call Steven Jackson at 813-616-9411 now!
