Guidance Available On FHA For New Homes

Bettendorf, Iowa -

Davenport, IA based mortgage expert John Cornish is sharing advice for those who wish to make use of Federal Housing Administration (FHA) assistance in the near future. Due to the nature of this assistance, more individuals and families can find homeownership within reach despite smaller budgets, and Cornish would like to help ensure this process goes as smoothly as possible.

“If you’ve been chasing the dream of homeownership for some time,” states John Cornish, “you likely came across the Federal Housing Administration’s programs at some point, especially if you had concerns about your credit, budget and so on. The good news is that the FHA’s programs can make homeownership a reality for you even if you are experiencing financial difficulties. However, there is still a process to go through, and it needs to be done right.”

Cornish says it is important to determine whether the FHA is indeed the best option for hopeful homeowners. Depending on their circumstances, other paths may be more feasible, and Cornish’s first course of action with new clients is to help them determine what is best for their needs. This involves a full breakdown of every option at the client’s disposal, including advantages and disadvantages. Cornish is always pleased to give his recommendations where requested, but the final decision is also up to the client. He will simply make every effort to assist once they notify him of their wishes.

He has been featured in more than one news article for his efforts, particularly given his commitment to helping those who may feel more vulnerable navigating the intricacies of the real estate market, mortgages and so on. Over the course of his career, Cornish has dedicated his time to those in the process of buying their first home, veterans who want to make sure they are investing wisely and even homeowners who are exploring whether refinancing is right for their needs.

“It is important to have an informed perspective of every path before you before a commitment is made,” Cornish comments. “As a professional with years in the field, I can share insights that are difficult to find online or by talking to friends and family. A home is possibly the biggest investment you will ever make, and you should take every precaution to make sure you’re doing it right. You deserve nothing less.” Much of the advice shared online can also be far too generalized. Iowa buyers may find that tips that work elsewhere may not be applicable for local needs.

For instance, Cornish says the FHA can be useful for buyers who find themselves dealing with certain challenges. To begin with, the requirements for FHA assistance are more flexible than programs from some Iowa providers. In fact, the qualifications are among the easiest to meet, which can be of incredible use to people whose credit has a blemish or two. Certain factors can also mitigate the requirements further (or make an applicant’s case more favorable).

If their overall debt is low, they have residual income, their income potential has recently increased and so on, an applicant may find it easier to be accepted for FHA assistance. Cornish points out that people who have dealt with significant financial hurdles in the past, such as foreclosures and bankruptcies, will likely find it easier to get a mortgage through the FHA than with other parties, especially considering the FHA has a shorter waiting period requirement following such credit issues.

If money is tight, a buyer may also be pleased to learn that applying to the FHA can result in low (or even zero) closing costs. These costs typically include lender fees, property taxes, homeowners’ insurance, escrow fees and so on, but there are ways to mitigate the sting of these additions. Cornish says there is a lot of room for negotiation, making the FHA an excellent consideration for those who have to track every expenditure.

John Cornish has dedicated his time to helping people finance their homes without running the risk of making costly, time-consuming errors or having to deal with unscrupulous parties. At all times, his priority is the client, and he advocates strongly on their behalf.

Today, Cornish can be found discussing opportunities with clients or making a contribution to a charity event for a good cause. He invites anyone interested in learning more to get in touch with his office to schedule a consultation.