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.
If you’re getting ready to shop around for mortgage options, it’s a good idea to brush up on some of the technical terms in our Mortgage Glossary. You’re going to be hearing a lot of them!
FHA Loan Articles
Read About Mortgage News, FHA Updates, and Guidelines
FHA Amends Rehab Loan Policies
In August 2016, the FHA issued a press statement announcing amended policies for the FHA 203(k) Rehabilitation Mortgage Insurance Program. The policies were specifically changed regarding the 203(k) Consultant Draw Inspection Fee.
The Obama Mortgage, Refinancing, and HARP
Many people refer to government foreclosure avoidance programs as Obama mortgages, but the Making Home Affordable program is basically the original Obama mortgage. It includes a variety of options for those who need help to better afford their monthly house payments.
Making Home Affordable Options for Obama Mortgages
The government program sometimes known as the Obama Mortgage is called Making Home Affordable. When going to the Making Home Affordable official site, you will find a variety of options designed to help depending on your circumstances.
Obama Mortgage Refinancing Options
Some borrowers need Obama mortgage help from the Making Home Affordable (MHA) program because they have fallen behind on their mortgage payments and don’t know what their options might be.
Can Overtime Pay Be Used to Qualify for an FHA Loan?
FHA loan rules require your loan officer to verify your income as part of your FHA loan application. Not all income can qualify to be used towards the calculation of the borrower’s debt-to-income ratio, only that which the lender can determine is reliable.
Tax Liens and FHA Loan Approval
Not all borrowers come to the FHA loan or refinance loan process with the same types of credit history, FICO scores, or other financial qualifications. Some come with past financial judgments, some come with a bankruptcy or foreclosure in the past, and still others may be applying for an FHA mortgage with a tax lien on their credit record.
Common Questions About FHA Reverse Mortgages
The FHA’s version of the reverse mortgage, known as the FHA Home Equity Conversion Mortgage (HECM), is available to qualified borrowers who meet the FHA’s age requirements, occupancy requirements, and more. Reverse mortgages can be a bit more complex than a typical refinance loan.
Questions and Answers About Interest Rate Rules
The interest rate on your FHA mortgage is one of the most important factors when considering the long-term cost of your home loan. Do you know the facts about FHA mortgages and the interest rates on them?
What You Should Know About Refinancing and FICO Scores
For borrowers with a home loan who are looking at refinance loan options, the FHA loan program offers several choices. What should you know about FHA loan FICO score requirements and related issues when considering your FHA refinance needs?
Calculating Your Monthly FHA Loan Mortgage Payment
How much will your monthly mortgage payment be? That’s an important question to ask early on when you’re planning your home loan. Is it really a simple calculation of how much the loan is, divided by how many months the mortgage loan payments are required?