FHA Loans for Home Owners

September 23, 2018 - This is a common question, and at first glance, FHA loan rules do prohibit using single family FHA mortgages to purchase investment real estate. But much depends on the buyer’s definition of investment property compared to the FHA view.

September 21, 2018 - FHA home loans are attractive to many borrowers because the FHA guidelines are more forgiving with FICO scores, and a lower down payment is required than for some other mortgages. But your down payment requirements aren’t just set by the FHA; lender standards also have a say.

September 20, 2018 - For FHA 203(b) loans, the amount of money approved for the mortgage must pay for the home and include the add-ons, but no cash is allowed back to the borrower except in the form of a refund. That is one reason why some borrowers ask about an FHA Jumbo Loan.

September 19, 2018 - FHA borrowers who have experienced this negative credit event often wonder if it account collections in their credit histories will hurt their chances for FHA home loan approvals; much depends on the age, the amount, circumstances, and lender requirements in this area.

September 18, 2018 - There are some important questions to ask yourself as you begin the planning stages for a new FHA home loan. If you are going into the process without the answers to these important questions, you might not be ready to apply for a new loan just yet.

September 17, 2018 - Some published reports claim that the number of potential buyers researching mortgages and interest rates online   is over 90 percent, which is a big jump from around a decade ago when slightly more than half of potential buyers were doing their mortgage homework online.

September 16, 2018 - Do you know how you can use an FHA rate-and-term refinance loan? This type of FHA refinance loan is for owner-occupiers and features no cash back to the borrower (except for refunds), and has a variety of possibilities.

September 15, 2018 - The home loan day of funding, when the funds actually transfer from the lender to the seller, is one thing that must happen before you are given your keys. It’s very good to know the exact date of funding so y ou know precisely when interest payments on the mortgage begin.

September 14, 2018 - Borrowers who have high debt ratios, and/or FICO score issues may still be able to be approved for an FHA mortgage loan but the lender may require one or more compensating factors to justify loan approval.

September 13, 2018 - Do home loan borrowers need to make a 20% down payment to be approved for a mortgage? The answer to that question depends on FICO scores, the type of mortgage loan you want, and your financial needs and goals.