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In 2018, HUD is making home ownership more affordable for millions of Americans with increased loan limits in 3,011 counties due to higher housing prices. FHA limits inform borrowers how much is available for an FHA home loan.

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May 26, 2018
FHA Rates for May 26, 2018
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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.

Paying the upfront costs of buying a new home can be challenging. To help overcome this hurdle, many local and state agencies offer down payment assistance in the form of grants or second mortgages.

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!

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FHA Loan Articles and Mortgage News

Down Payment Rules for VA One-Time Close Loans

May 19, 2018 - There is a big difference between FHA One-Time Close (OTC) construction loan program and the VA One-Time Close version. FHA OTC loans require a down payment, while VA mortgage loans allow qualified borrowers the option of a zero-money down construction loan.

Approving Your FHA Home Loan: Debt Issues

May 15, 2018 - How does your participating FHA lender decide to approve or deny your FHA mortgage loan? It doesn’t matter if you are applying for a construction loan, refinancing, or buying an existing home. Lenders must follow certain steps to determine your creditworthiness.

FHA Rehab Loans: What Are Improvement Standards?

May 11, 2018 - For those who want to rehab an existing home rather than having one built from scratch, the FHA 203(k) rehab loan is an important option. This FHA mortgage, which is also available as a refinance loan, allows the borrower to make renovations and improvements to the property.

One-Time Close Loans: USDA, VA, and FHA

May 8, 2018 - The Department of Veterans Affairs, The USDA, and the Federal Housing Administration all offer a version of this with aspects that may be unique to each one; for example, VA One-Time Close construction loans feature no VA-required down payment (like other VA home loans) for qualified borrowers.

FHA Loans and Mortgage Insurance Requirements

May 6, 2018 - Conventional mortgages require private mortgage insurance (PMI) unless the borrower makes a  lender-prescribed down payment that eliminates the need.  FHA mortgage loans are different.  They don’t require PMI, but they do require an Up Front Mortgage Insurance Premium and a mortgage insurance premium (MIP) instead.

FHA Home Loan Appraisals: Does The Basement Count?

May 3, 2018 - It's important to know that FHA loan rules are not the only ones that may affect the outcome of an FHA appraisal. State law, building code, and other regulations may also apply. You should expect your transaction to be affected by more than one set of guidelines.

Do FHA One-Time Close Mortgages Require a Down Payment?

May 1, 2018 - There are FHA One-Time Close construction loans, but also USDA and VA One-Time Close construction loans. When you choose the FHA version of the OTC, there are some important differences you should know.

FHA Construction Loan Rules and Lender Requirements

April 28, 2018 - When you examine your FHA construction loan options, choosing between a One-Time Close construction loan and other construction loan options with two loans and two closing dates are only part of your decision-making process.

VA One-Time Close Construction Loans

April 26, 2018 - Did you know that the VA offers a One-Time Close construction loan similar to the FHA One-Time Close loan? The VA version of the One Time Close loan allows qualified borrowers to finance both the construction and the permanent mortgage at the same time.

FHA Construction Loans: Why Your Lender Matters

April 24, 2018 - Why does your chosen lender make a big difference when it comes to how your FHA One Time Close construction loan or any other type of mortgage product make such a difference? Can’t you apply at any participating FHA lender to get what you need?

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