FHA Loans for Home Owners
Whether you're a first time homebuyer, moving to a new home, or want to refinance your existing conventional or FHA mortgage, the FHA loan program will let you purchase a home with a low down payment and flexible guidelines.
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.
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 help put that equity to work.
A variety of FHA loan programs are backed by HUD and are available to home owners. Choose between adjustable and fixed rate mortgages, energy efficient and graduated payment loans, condo loans, and others.
FHA Loan Articles
Read About Mortgage News, FHA Updates, and Guidelines
Do FHA Loans Have Income Limits?
There are no minimum or maximum income requirements for FHA home loans Rules do not say that it’s possible to earn too much to qualify for an FHA loan. Regarding minimums, regulations focus more on the borrower’s ability to afford the mortgage loan.
Do Tax Liens Affect FHA Loan Applications?
There’s a question that comes up from time to time from borrowers who may owe federal taxes and want to apply for an FHA loan. Does the simple fact that a borrower has a tax lien exclude them from applying for an FHA home loan?
More Updates to FHA HECM Loan Due and Payable Policies
One very important aspect of the HECM loan, which features no monthly mortgage payment and is instead collected in full when the borrower dies, sells the home, or fails to live up to the terms of the HECM mortgage loan agreement.
FHA Announces Changes to Due and Payable Policies
In the past two years, the FHA Home Equity Conversion Mortgage Loan program has seen a number of changes. New changes cooncern the circumstances under which a HECM loan becomes due and payable and what happens at that time.
Tax Extensions and Your Mortgage
One important issue many borrowers have had to face in recent years is the tax consequences from a home loan modification or similar alteration to a mortgage where part of the debt is forgiven, cancelled, or written off by the lender.
What You Need to Know About Your FHA Down Payment
Many financial writers and industry professionals urge new house hunters to start working on credit, good payment habits and other loan prep activities at least 12 months before turning in an application for the FHA mortgage.
FHA Loans and Your Tax Records
All FHA borrowers should be prepared to include tax information with the mortgage loan application. The actual requirement can vary depending on lender standards, state law, and whether the borrower is self employed or not.
What's Your FICO Score?
When it comes to FICO scores, many soon-to-be FHA loan applicants feel worried or concerned; they aren’t sure if their scores are good enough to qualify for an FHA home loan. Some have FICO scores they worry are so low that they should be looking for second chance financing
Significant Financial Changes Before Loan Closing
Consider this true-life situation: a borrower applies for a home loan, gets approved, and schedules a closing date. In the meantime, the lender reviews the borrower’s financial data and notices significant overdraft fees associated with a borrower’s checking account.
FHA Loans, Spouse Co-borrowers, and Bankruptcy
I am a first time buyer. My income is currently between 45k to 50k a year. I understand I qualify for an FHA home loan based on my income and FICO score. My question is, since my wife did bankruptcy last year, can I include her in the loan for our first home?