FHA Loan Requirements

January 25, 2022 - There are a number of ways you can pay for the closing costs of your FHA home loan. Closing costs can include any discount points you are paying to lower your interest rate, appraisal fees, property taxes, and other expenses.

January 22, 2022 - Here’s a list of general down payment questions related to FHA home loans. In each case, the answer is informed by the FHA Lender’s Handbook, HUD 4000.1 but all borrowers should know that additional lender requirements may also apply.

January 18, 2022 - Despite their promises, nobody can remove accurate data from your credit report that is not outdated. That’s the lure some third-party credit repair companies use to get your money. Did you know there are many things you can do to improve your FICO scores yourself?

January 17, 2022 - Most people generally seem to understand that you cannot be discriminated against for your race, religion, gender, or national origin when you look for an FHA mortgage. This is true at all stages of the housing process whether you seek an FHA loan, conventional mortgage, or even rental housing.

January 16, 2022 - Our headline is a bit disingenuous because the myths we’re discussing prevail in every calendar year one way or another. Most times, when people make assumptions about FHA loans, it often has to do with being or not being a first-time homebuyer.

January 15, 2022 - The FHA home loan program offers options for borrowers who want to buy a typical suburban home, but there are also loan options for mobile homes and condo units. These loans are known as Title I loans and can be used to buy or refinance these homes.

January 14, 2022 - Did you know that you can get help with the FHA required minimum down payment, for example, but that the money must be documented from start to finish before the lender can allow you to use it?  You can ask your participating lender for instructions on what should be submitted.

January 13, 2022 - If you are new to the home loan process or have never applied for an FHA mortgage before, loan approval may seem a bit mysterious at first. There are three basic stages to the home buying process you should be mindful of: prequalification, pre-approval. and closing.

January 12, 2022 - How many unsolicited e-mails, junk mail and robocalls have you received in the last year related to refinancing or home equity loans? It’s these unsolicited contacts that should arouse suspicion, but many still fall for mortgage and refinance-related schemes every year.

January 11, 2022 - Do you need a real estate agent when purchasing and financing a home with an FHA loan? That question is tough to answer because so much depends on your specific circumstances. There are  times when you might want the help of a real estate agent, and times when you might not.