FHA Loan Requirements

January 18, 2021 - 2020 was a newsworthy year for many important reasons, but for the housing market one of the biggest headlines involved volatility in mortgage loan interest rates for both government-backed mortgages like FHA loans and VA mortgages as well as for conventional lenders.

January 17, 2021 - Credit monitoring is important when preparing for any home loan and borrowers interested in building a home on their own lot using a One-Time Close (OTC) construction loan should consider investing in credit monitoring as early as possible for best results on their loan application.

January 14, 2021 - Escrow accounts are used to hold the money you need to make a good faith deposit, pay property taxes, etc. The money is placed in the account and allowed to stay until the payment date. Escrow is basically a place to hold the money as it changes hands.

January 11, 2021 - The FHA and HUD have undertaken multiple efforts to streamline aspects of the FHA loan program. The latest of these efforts includes a more user-friendly FHA loan certification form. FHA officials say the new revised loan-level certification is a step forward for both clarity and accuracy.

January 8, 2021 - Points can be paid up front by the borrower or rolled into the loan amount depending on the loan and the lender, and some wonder if they should purchase points as they are planning and saving for the new loan. When is it a good idea for borrowers to purchase discount points?

January 6, 2021 - First-time home buyers won’t notice, but some of the FHA loan paperwork typically dealt with during the home loan process is changing. The changes are part of a larger move dictated by something known as the Housing Finance Reform plan.

January 3, 2021 - If you are considering your first home loan, there are some great resources you should use in your planning and saving stage of the mortgage. No new borrower has all the information they need to buy a home at their fingertips in the early days.

January 1, 2021 - Whether you’re looking at a starter home or you want to build a house on your own lot to retire in, there are many options with FHA mortgages and not all of them involve purchasing someone else’s suburban house; you can choose from condo units, mobile homes, and more.

December 30, 2020 - If you want to build a home on your own land or on land you buy in conjunction with your construction loan, you should know there are a variety of construction mortgages out there and  not all of them are the same.

December 24, 2020 - This is not the first time the agency has modified the expiration dates of COVID-19 mortgage relief measures. It’s actually the fourth such extension and is applicable for all FHA mortgages except for buildings that are considered abandoned or legally vacant.