This could be a great opportunity for those of you with less than perfect credit scores but want to take advantage of the lower home prices and very low interest rates. I have access to BofA loan officers who can help you explore your options. Please let me know if I can be of assistance.
This just in from the National Association of Realtors site:
Bank of America Home Loans recently changed underwriting standards for the FHA loans it provides through its mortgage loan officers for FHA purchase mortgages. Bank of America will increase its flexibility on FICO score requirements and allow borrowers with minimum FICO scores of 580 to apply for loans, assuming they meet certain debt-to-income requirements. Agents with questions about Bank of America’s underwriting criteria for FHA loans should contact a Bank of America Mortgage Loan Officer.