Derek J. Baughman's (derekjbaughman) Blog

What defines a BAD CREDIT HOME LOAN?  In today's lending era anyone with a credit score under 620, anyone that has had a mortgage late in the last 12 months or anyone that is or has recently filed a bankruptcy will be considered as a BAD CREDIT HOME LOAN. If you think or know one (or all) of thes...

How does the FIRST TIME HOMEBUYER TAX CREDIT work? Does Washington State offer a FIRST TIME HOMEBUYER TAX CREDIT down payment assitance program? If you meet certain qualifications, you may be eligible for a tax credit of as much as $8000.00.  A credit is typically more valuable than a deduction, ...

I am going to demystify this new lending era we have entered and explain exactly what a BAD CREDIT FHA LOAN is.  This type of mortgage can also be called an alternative credit or a no credit mortgage also. First lets start with some basic FHA facts. FHA was created in 1934 as a part of the Nation...