Posted by Don Dion on August 07, 2003 at 12:40:39:
Why go FHA I know of a 100% program that can use a landlord letter for verification of rent. What state are you in? Drop me a line direct and I will go thru the deal with you.
FHA Financing Question - Posted by RE King
Posted by RE King on August 06, 2003 at 19:32:19:
I’ve heard that it’s very important to have rental history that is verifiable by cancelled checks or management company when doing an FHA loan.
I have somebody who does not have any trade lines and has been paying cash for their rent for 10 years. But they have no bad credit either and they get almost $2500 SSI every month.
They have alternative trade lines and can get the landlord verification of rent.
My broker is telling me that the combination of no regular trades and no management company rental verification will kill it. What do you think?
PS No problem with debt ratio, time receiveing income, etc.