An FHA refinance mortgage or FHA loan allows for the refinance or purchase of a home with a low down payment. These loans are great for the first-time homebuyer.
FHA NEWS and RELATED ARTICLES
Anyone shopping for a new home and interested in an FHA loan should be aware of several changes to FHA loan requirements now in effect or scheduled to take effect soon. Borrowers with credit scores of less than a 580 FICO score will be required to put at least 10% down. When you apply for an FHA home loan, you're required to certify your income, offer proof of employment and show that you're a good credit risk with a history of on-time bill payments for at least 12 months. The Basic Allowance for Housing, or BAH for short, is a military benefit that comes in handy when applying for an FHA loan or VA home loan because it provides the lender with an easy-to-measure proof of a veteran’s ability to pay a mortgage.
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.
Learn about: FHA Refinance Loans
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.
Learn about: FHA Loan Limits
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.
Learn about: FHA Purchase Loans
ADDITIONAL ARTICLES
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
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Military guidelines, regulations, and benefits are introduced each year for everything from Military Pay Charts to your VA Loan benefits. We can help you stay informed.
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