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
Learning the Basics About FHA Loan Limits
You and your lender need the amount of the sale price of a home before a loan amount can be properly calculated. Other factors that affect the loan include the amount of your down payment, and the county loan limits where you are buying the home.
Minimum Property Requirements for Septic Systems
Lenders are responsible for making sure a property lives up to local requirements, community sewage systems are properly licensed, and these systems are adequate enough to service the property.
FHA Rules for Adding Repairs to the Home Sale Price
If you have ever wanted to buy a home, but in the end decided to pass on the deal because of repair costs, you might be affected by the FHA loan rules for such situations under the right circumstances.
FHA Loan Rules on Student Loan Debt
The borrower who has a parent paying student loan debt every month may be able to show the cash income from that payment is stable and reliable. Debt listed in their own name can and probably will be included in debt-to-income ratio calculations.
Is There a No Money Down FHA Loan Option?
FHA home loans do not feature a no money down option. One type of government-backed home loan program does, but VA loans are for qualified veterans and currently serving military members.
Program Changes for FHA Home Equity Conversion Mortgages
Home Equity Conversion Mortgages are for eligible borrowers age 62 or older, and feature no monthly mortgage payment for the borrower. Changes were announced effective June 2014.
FHA Loan Documentation Your Loan Officer Needs
Your FHA loan application can include a variety of documentation that is required to help the lender process your loan. Privacy is a bigger issue than ever.
Can the Seller Pay for FHA Home Loan Expenses?
FHA loan rules govern a wide range of issues when it comes to the purchase of a home with an FHA mortgage. The seller would be allowed to contribute up to six percent of the sales price of the property without a penalty.
FHA FICO Score Facts
The FHA Bad Credit Loan myth is a common one, but the truth of the matter is that FHA loan rules, as printed in HUD 4155.1, do list minimum credit scores.
Do Bad Credit FHA Home Loans Exist?
The single-family FHA loan program does not specifically offer a bad credit mortgage loan. FHA loan rules require the borrower to have a FICO score of at least above 500.