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.
- The Facts About FHA Credit Requirements and FICO® Scores
- Do FHA Loan Requirements Apply to All Borrowers?
- Your FHA Loan Credit Qualifications
FHA Limits for 2018
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.
Down Payment Grants for FHA Loans
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.
FREE CREDIT SCORES From All 3 Bureaus
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FHA Loan Articles and Mortgage News
December 5, 2018 - When you purchase a home with an FHA mortgage, are you already contemplating when you might sell or refinance? It may sound premature to some, but for those who prefer long-term financial planning a strategy for home ownership makes sense.
December 4, 2018 - No matter if the loan you’re interested in is an FHA One-Time Close construction loan, an FHA purchase loan for existing construction, or even a USDA home loan, you will encounter the phrase conforming loan in your home buying journey.
December 2, 2018 - The average civilian with no time in uniform cannot be approved for a VA home loan because this mortgage is a benefit offered in exchange for military service. FHA mortgages, on the other hand, are open to all financially qualified borrowers.
December 1, 2018 - FHA mortgage loans require the home to meet minimum standards in order for the loan to be approved by your participating lender. There are some issues that leave the lender no choice but to deny the mortgage. Do you know what those are?
November 29, 2018 - A study by the National Association of Realtors reveals that a large number of house hunters in the Millennial age range purchased a previously owned home that requires some kind of repair work. If it’s safe to assume that Millennials love fixer-upper homes.
November 28, 2018 - There is a big difference between house hunting in December and closing the deal in December. Buyers may find sellers more willing to negotiate during the winter months in general if it looks to the seller like a long time might pass before getting another offer.
November 27, 2018 - Remember, it’s better to take longer to prepare for your refinance if you need to in order to fix things like payment history (a recommended 12 months of on-time payments for all bills) or correct identity theft issues on a credit report.
November 26, 2018 - An FHA mortgage is available to anyone who financially qualifies and is not restricted to first-time home buyers or those who have never owned property before. Like VA home loans, and USDA mortgages for rural areas, the FHA mortgage program is a government-backed home loan.
November 24, 2018 - Applying for an FHA mortgage to purchase a new construction or existing construction home is known as a forward mortgage and there are a variety of options. FHA loans are a good choice if you need more forgiving credit standards and a lower down payment requirement.
November 22, 2018 - If your rent every month is costing you more than a mortgage would, does it make more sense to buy? You may also be tired of being unable to make changes to your living space and want the freedom of home ownership rather than the insecurity of lease expirations, increasing rent, etc.
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Homebuyer Terminology
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!
