FHA LIMITS FOR 2013
FHA loan limits were established to define how much you can borrow for a HUD-backed mortgage. Each state has different limits, so be sure to look up your state to understand what is available for your FHA home loan.
NOW IS THE TIME FOR AN FHA LOAN
Homeowners enjoy the benefits of investing in their property year after year. For some, there comes a time when that investment can come in handy. An FHA refinance loan can be an effective way to put that equity to work.
IMPORTANT STEPS FOR FHA HOMEBUYERS
Purchasing a home is one of life's major landmarks and for some, it is even a dream come true. Securing an FHA loan is the most important piece of the homebuying puzzle. If you follow some simple steps, you can make sure that the process runs smoothly.
FHA NEWS and RELATED ARTICLES
Some FHA loan applicants come to the application process wanting nothing more than to make their down payment and get into their mortgage. But other borrowers approach their FHA mortgage with a pre-payment strategy.
Some of the most frequently asked questions about making a new home purchase using an FHA guaranteed mortgage loan involve the issue of the down payment.
Borrowers who have experienced financial trouble and wind up selling their property in a short sale arrangement often recover from their difficulties and feel ready to become homeowners once more.
Earlier this year, the FHA and HUD issued a press release about changes to the FHA mortgage insurance policy. The new policy will include alterations to current mortgage insurance premium policy and how long such policies remain in effect.
If you’re applying for a first-time FHA home loan, you’re likely wondering how long your mortgage will be and what kinds of options you might have for shorter or longer loans, early payoff or what happens if you just pay the monthly mortgage minimum.
One common misconception about FHA home loans and FHA refinance loans is that the FHA itself is the lender and issues money to the applicant. But this is not true.
A common question about FHA loans involves the age of the home and whether an older home is suitable for an FHA guaranteed mortgage. Some FHA loan applicants want to know if a home built in a certain decade is eligible for an FHA mortgage.
Many FHA loan applicants have worked hard to build up their credit scores but aren’t sure whether they can qualify for an FHA loan. If the borrower does not meet minimum FHA standards, the loan application will be denied.
When a borrower wants to get an FHA home loan, he or she must fill out an application and work with a lender to get loan approval. Once the loan application is processed and the loan has been approved, the process can move forward.
In late 2012, FHA and HUD revised and updated instructions for borrowers and lenders regarding its flood zone determination policy. FHA requires all mortgagees obtain a flood zone determination on all properties.
FHA TIPS for HOMEOWNERS and HOMEBUYERS
Useful information about FHA refinance loans, new FHA loans, and the guidelines that HUD wants you to follow.
>> read all the FHA Tips