FHA Loan Requirements

February 23, 2021 - If you want to build a home on your own lot using a One-Time Close construction mortgage, one thing you’ll be required to do is hire a contractor to do the work. One-Time Close (OTC) loans are different than other home loans that involve using a builder, performing rehabilitation or repair work, etc.

February 22, 2021 - HUD issued a memorandum indicating that will interpret the Fair Housing Act to bar discrimination on the basis of sexual orientation and gender identity and directing HUD offices and recipients of HUD funds to enforce the Act accordingly.

February 19, 2021 - Fair Housing Act laws forbid landlords, property managers, and anyone else involved in the housing industry from denying or limiting housing to people with disabilities. Housing industry professionals cannot refuse to make reasonable accommodations in policies or practices when necessary.

February 18, 2021 - When applying for a mortgage or even a refinance loan, there is no one-size-fits-all solution. There is no universally typical borrower, and no circumstance that applies to every applicant. Each home loan application is different, with different circumstances and conditions.

February 16, 2021 - Borrowers who went into loan forbearance over COVID-19-related financial issues have several options for mortgage loan relief. Others instead wanted to refinance their mortgages into a lower payment or interest rate in order to reduce the financial pressure on their monthly budgets.

February 14, 2021 - Many who have filed bankruptcy in the past and feel ready to return to homeownership want to know how long they must wait before applying again. But what does it take to be approved for an FHA home loan after filing bankruptcy? The key is time.

February 11, 2021 - The FHA and HUD have announced new waivers for rules found in HUD 4000.1 that would, when there is not a global pandemic to deal with, require in-person transactions or other contact. There has also been an extension to the deadline  to request home loan forbearance.

February 8, 2021 - In the era of COVID-19, some real estate blogs report an increase in transactions where the buyer and seller negotiate the sale of a home without the buyer ever having set foot on the property. Almost two thirds of those who bought real estate in 2020 did so this way.

February 5, 2021 - A One-Time Close construction loan is a way even a first-time home buyer can choose to build a new home instead of buying someone else’s existing property. These mortgages do require higher FICO scores and require more time before move-in day than a typical home purchase loan.

February 3, 2021 - The FHA and HUD announced extended foreclosure relief for borrowers affected by the global coronavirus pandemic, and in any situation where home owners need mortgage relief the scammers begin coming out of the woodwork.