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Suddenly Thousands of Families Who Couldn't BUY A HOME, CAN: Maybe That Means You.

YOUR ASSETS
Income of any kind counts, if it's been (or will be) steady for 3 years. It doesn't matter if you've had several jobs, as long as you've managed to pay your bills and work steadily. There's no minimum time you have to have been in your current job, either.

Seasonal pay and other income counts. The question is, whether it's steady. So child support, military, retirement and Social Security income, unemployment compensation, alimony, VA benefits - even the rent you're paid by family members who live with you - can be included in your total financial picture.

Part-time, overtime and bonus pay counts. If prospects are good that your part-time, overtime or bonus pay will continue, it counts toward your total income and helps make you more eligible.

Special savings count. If you can verify your savings in a plan set up by your church or community association, or in other non-traditional programs, that money can be added to your other assets to make you more eligible.

YOUR CREDIT HISTORY
Child care costs don't count. Even though child care is a regular expense, it's not considered a debt, so your total value is higher, and you're more eligible.

Short-term debts don't count. If you can pay off a debt within 10 months, you don't have to list it, making you more eligible.

You don't even have to have any credit history. If you prefer to pay debts in cash, or are too young to have established credit, there are other ways to prove your eligibility.

You may carry more debt and still qualify. Talk to your lender or real estate agent about your qualifying ratio- the ratio of income to debts. You may be surprised to find out just how much home you can afford.

YOUR CASH INVESTMENT
With FHA, you don't need a mountain of money for a down payment and closing costs. In fact, you don't have to have any savings of your own.

You can use a gift. Your entire down payment and closing costs may be a gift from a relative, your employer or labor union, your church or a government agency designed to help in this way.

You may use a private savings club or money saved at home. Non-traditional ways of saving need to be verified, but they work, too.

You may work it off. If you can do certain repairs and improvements yourself, your labor may be as good as cash toward your down payment and closing costs.

You may use rent credit. Paying extra rent for the house you plan to buy may be considered the same as accumulating cash.

Your down payment will typically be less than that of a conventional loan. With the FHA's new simplified calculation, your standard down payment will be lower than that of a conventional loan. And you may be able to apply some of the closing costs towards your down payment. Ask your lender for details.

YOUR CHOICES
For over 60 years, the FHA has helped millions of Americans like you to become homeowners, with choices like these:

New Higher Loan Limits. FHA's new loan limits put homeownership within the reach of more Americans than ever before. Ask your lender for information on current limits in your locality.

FHA 203(b) Home Loan. Standard FHA insurance for a single family mortgage. Your lender - a bank, mortgage company, savings & loan or other lender - funds your purchase, and HUD insures the mortgage.

FHA 203(k) Rehab Mortgage. Recent changes have made it faster and easier than ever to bundle money for repairs and improvements into your home loan,for everything from a new kitchen to a new second floor, and roll your renovation costs into the life of your loan.

HUD Homes. We don't just insure home loans, we sell HUD Homes, too. Special incentives, affordable prices and low down payments often make HUD Homes especially attractive. They're available all across the country, and many are ready for you to move in right away. For details, check with any participating real estate agent.

After helping nearly 26 million Americans become homeowners, the FHA has recently rewritten the rules and eased the guidelines, to make buying a home even easier and more affordable. As a result, thousands more families are eligible for FHA-insured home loans right now. Have you seriously thought about how eligible you may be?

Take a look at...
hud
HUD and FHA are on your side.

OTHER FHA PROGRAMS
Here are just a few more of the 40 FHA programs designed to help people buy their own homes. Do they apply to you? Just ask any lender or real estate agent.

For more information; contact your local lender
or real estate agent.

U.S. Department of Housing and Urban Development
http://www.hud.gov

ONE AMERICA
HUD and FHA are on your side.
hud
EQUAL HOUSING OPPORTUNITY

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