FHA LIMITS FOR 2014
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.
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.
IMPORTANT STEPS FOR FHA HOMEBUYERS
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.
FHA NEWS and RELATED ARTICLES
The FHA loan program is voluntary--there are participating FHA lenders who negotiate FHA mortgages with qualified applicants. Those negotiations include terms and interest rates.
FHA loans have some general rules about closing costs that are not state-specific. State law may affect some individual aspects of the FHA loan process. The down payment can never be included in the amount of the loan.
There is a required wait time between the date when the borrower begins making mortgage loan payments on the home and the day the borrower becomes eligible to apply for FHA Streamline Refinancing on that mortgage.
FHA loan policy about down payments for new purchase home loans is quite clear. One condition of FHA loan approval is that the borrower provide a minimum cash investment--a down payment--of at least 3.5%.
The FHA maintains a set of guidelines on how the lender should view a 401K when it comes to calculating the debt-to-income ratio. FHA loan rules say redemption evidence is required by the lender.
When it comes time to fill out our FHA loan application or pre-approval paperwork or online forms, some might feel tempted to overlook or fail to include their most recent financial obligations. Missing data can slow down the process.
Some FHA loan applicants come to the application process wanting nothing more than to make their down payment and get into their mortgage. But other borrowers approach their FHA mortgage with a pre-payment strategy.
Some of the most frequently asked questions about making a new home purchase using an FHA guaranteed mortgage loan involve the issue of the down payment.
Borrowers who have experienced financial trouble and wind up selling their property in a short sale arrangement often recover from their difficulties and feel ready to become homeowners once more.
Earlier this year, the FHA and HUD issued a press release about changes to the FHA mortgage insurance policy. The new policy will include alterations to current mortgage insurance premium policy and how long such policies remain in effect.
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