- Two Years with steady employment, (with same employer is best).
- Income for the last two years should be the same or increasing.
- Credit report should have less than two thirty day lates in last two years.
- Any bankruptcy must be at least two years old, with good credit experience since.
- Foreclosures must be at least three years old, with good credit since.
- The new mortgage payment should be approximately 30% of your gross income.
These are some of the most basic of FHA guidelines for qualifying for a FHA loan.Ê If Ê you can answer yes to most of these statements, you probably qualify for a FHA mortgage loan.
For full information regarding your particular mortgage loan needs, and instant service, call me at any time: Carlos Sanchez, (787) 292-6016 or (787) 533-9746, or send me a message by clicking SEND US EMAIL above. Thank you! |
FHA loan limits for single-family home units in Puerto Rico are as follows (as of December 12, 2006):
$197,600 for properties located in Caguas, Cayey, Cidra, Gurabo, San Lorenzo
$166,363 for properties located in Aguas Buenas, Barceloneta, Bayamon, Canovanas, Carolina, Catano, Ceiba, Comerio, Corozal, Dorado, Fajardo, Florida, Guaynabo, Humacao, Juncos, Las Piedras, Loiza, Luquillo, Manati, Morovis, Naguabo, Rio Grande, San Juan, Toa Alta, Toa Baja, Trujillo Alto, Vega Alta, Vega Baja, Yabucoa
$144,336. for other towns on the island, Vieques and Culebra.
Many of the municipalities sponsor some type of economic
aid program which in many cases include financial assistance.
Contact City Hall (Alcaldía Municipal in your city
for information.
If you cannot find the information you need, and we will try to help you find it.
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