FHA Loan Requirements

November 30, 2020 - From the simple act of reviewing your credit scores all the way to getting an appointment with a local housing counselor to discuss how to properly get ready for your mortgage application, there are a variety of options to help you prepare for your loan.

November 27, 2020 - Up front costs are a typical part of doing business with an FHA mortgage. Anticipating your closing costs and down payment are an important part of the planning stages of your new loan. Do you know what you can avoid paying yourself up front?

November 25, 2020 - The most important thing to do as you consider how to approach a refi loan is determine what your goals for the new loan might be. Cash out at closing time is a motivator for some, a lower interest rate or mortgage payment is another.

November 23, 2020 - Getting prequalified is an initial step toward the loan. You are not committing to the mortgage yet, just exploring your options. You’ll want to have the general information about your income, the amount of debt you carry, your credit scores, and other details.

November 22, 2020 - FHA loan rules include instruction to your loan officer about how to process your employment information and also includes guidelines about how much time in the job market is required in order for you to be seriously considered as a home loan applicant.

November 20, 2020 - When you apply for an FHA mortgage (or any other type of home loan) you might wonder which factor the lender relies on more to approve or deny your loan--the overall contents of your credit report, or your FICO scores specifically? Which one does the lender rely on more?

November 19, 2020 - In the era of coronavirus, everyone will experience financial hardship at some point. But how you weather these problems can affect your future home loan plans and it’s good to have a contingency plan in case you run into trouble paying your bills.

November 17, 2020 - If you need an FHA home loan an escrow account will be an important part of your home loan experience. These accounts are used to store money from your monthly mortgage payments that is set aside for property taxes, insurance, and other expenses.

November 16, 2020 - A lot of borrowers are worried about their ability to pay the mortgage during the global coronavirus emergency. Some aren’t as worried about being able to pay, but see record low interest rates and wonder if they should refinance. Should they consider a cash-out refinance loan?

November 14, 2020 - The major credit reporting agencies, major credit card companies, and even the federal government have all been digitally attacked, hacked, and compromised and as a result many entities are offering consumers free credit reports and advice.