FHA Loans for Home Owners
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.
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.
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.
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!
FHA Loan Articles and Mortgage News
Read About FHA Requirements, Updates, and Guidelines
FHA Updates PACE Policy
March 9, 2017 - In early 2017, the FHA published updates to its PACE policy. While not all purchasers may be affected by these changes, those who are purchasing property encumbered with a Property Assessed Clean Energy obligation should know about the updates.
Qualifying for FHA Loans: Income and Family Leave
March 6, 2017 - FHA lenders trying to determine a borrower’s verifiable income, debt-to-income ratios and related issues often run into situations where a borrower has either a gap in employment or a circumstance that may appear to be a gap.
HUD Releases Updated Housing Counseling Guidelines
March 3, 2017 - One of the most important things a borrower can do in the home loan planning stage is to turn to an expert for pre-purchase planning advice. The FHA and HUD offer a referral service to help borrowers make good plans and be well-prepared when purchasing a home.
FHA Updates Loan Limits for 2017
February 27, 2017 - When the FHA/HUD official site announced FHA mortgage loan guaranty limits for 2017, it quickly followed up the original announcement with some important corrections. However, the makes no changes to FHA loan limits, including those in the special exception areas.
FHA Loan Down Payment Requirements for 2017
February 25, 2017 - FHA home loans have plenty of differences from conventional loans, including down payment requirements and the amount of that down payment. Conventional loan down payment requirements vary from company to company-you may be told by one lender that five percent of the sale price of the home is required, while another may ask for 10%.
FHA Loan Fact and Fiction
February 22, 2017 - If you want to purchase a home with an FHA mortgage, there are a variety of options available to you including the types of property you can buy. You can choose to buy a suburban home, townhome, condo unit, mixed-use property, or a multi-unit property (up to four units).
The FHA Loan Appraisal Process
February 20, 2017 - When you want to purchase a house with an FHA loan, the appraisal process is a vital part of the transaction; it’s impossible to buy a home with an FHA mortgage unless there has been an appraisal on the property to determine the fair market value of the home.
FHA Lowers Mortgage Insurance Premiums for 2017
February 10, 2017 - The Federal Housing Administration is lowering mortgage insurance premiums on FHA mortgage loans in 2017. When you purchase a home with an FHA mortgage, part of your mortgage payment includes a required annual mortgage insurance premium (MIP).
FHA Loan Policy and Student Loan Payments
February 6, 2017 - There are many variations on a theme when it comes to one FHA loan question as it relates to a borrower’s debt-to-income ratio when student loans are involved. How does the lender calculate monthly payments for estimated payment to begin when schooling is complete?
FHA Loan Limit Are Higher in 2017
January 25, 2017 - Those looking to purchase a home with an FHA mortgage loan in 2017 will be pleased to learn that higher loan guaranty limits apply in the new year. The FHA national loan limit ceiling increased in 2017 to $636,150.