Whether you’re a first-time home-buyer or a repeat homeowner, some of the terms mortgage lenders use may seem confusing and even intimidating. However, their language really isn’t as complex as it may seem.

After an economic event like foreclosure, short sale or bankruptcy, your credit score will take a hard hit. While looking for a new mortgage, your score may cause lending agencies to turn you down.

Those facing bankruptcy had to wait two or more years. Through the Federal Housing Administration’s “Back to Work” program, eligible families may now apply for online home mortgage loans only 12 months after losing a home.

A Back to Work home mortgage loan program requires satisfactory credit, which takes a significant hit after an economic event. Credit scores below 500 are not allowed in the program, but borrowers with no credit score remain eligible.

1st Alliance Lending is a Back to Work Program Lender that will work closely with you to help you navigate your options for returning to home-ownership. We will guide you every step of the way.

The housing market crash of 2008 destroyed financial stability through its economic crisis. FHA's Back to Work program, borrowers may put down only 3.5 percent on a new mortgage. There are no premiums nor additional fees at closing. Participants must be ab