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 Loan Rules: Credit Report Inquiries
Your loan officer is required to show on paper that a potential borrower can afford both monthly financial obligations owed currently, plus the amount of those financial commitments with the added the amount of a potential new monthly mortgage payment.
Participating Lender Standards for FHA Loans
There are many common questions about FHA home loans. One area that confuses some borrowers or potential borrowers has to do with the difference between FHA single family loan rules and minimum standards, and individual lender standards.
Learning About FHA Loan Standards
One common misunderstanding about FHA loans and FHA refinance loans has to do with the difference between FHA loan minimum standards and the standards of a specific financial institution. The FHA loan rulebook is often not the final word on certain issues.
Can a Borrower Use Disability Income to Qualify?
There are many different types of income a lender may be required to verify as part of a borrower’s FHA loan or refinance loan application. Some types of income aren’t as traditional as others, yet may still qualify to be included in the borrower’s debt-to-income ratio.
Credit Check Rules for Co-signers and Co-borrowers
Not everyone who signs on the dotted line for a home loan may intend to occupy the property as their primary residence. Some may be non-occupying co-borrowers who are still financially obligated on the loan but don’t want to use the property as their main residence.
New Rule Proposed for Reverse Mortgage Program
The FHA Home Equity Conversion Mortgage loan, also known as an FHA Reverse Mortgage, could be getting some additional improvements designed to better protect qualified borrowers who apply for these loans.
The Facts About FHA Requirements on Caps and Minimums
Some borrowers want to know if FHA home loans have an income limit. The implication is often that FHA loans are intended for a certain type of applicant and that some borrowers might be disqualified for an FHA mortgage because they earn too much money.
Planning Ahead for Your New FHA Loan
Buying a home with an FHA mortgage loan involves planning, saving, and budgeting. If you are thinking of purchasing a home with an FHA mortgage, there’s a small checklist you should consider long before it comes time to pick a lender and fill out application forms on line or in person.
Which Type of FHA Refinance Loan is Right for You?
Refinancing a home loan with an FHA mortgage can be a good move, especially for borrowers with existing FHA or conventional loans that feature adjustable interest rates. If you are looking to build predictability into your monthly mortgage obligation, want cash back on a refinance loan, or want a lower interest rate, there are plenty of options available to you.
HUD Announces Additional Funds for Housing Counseling Grants
A local, HUD-approved housing counseling agency can be very helpful for a borrower in the planning stages of a new purchase home loan, or a credit-check-required FHA mortgage loan refinance. Housing counseling can be valuable, especially for first-time home buyers.