FHA Loan Requirements

February 14, 2021 - Many who have filed bankruptcy in the past and feel ready to return to homeownership want to know how long they must wait before applying again. But what does it take to be approved for an FHA home loan after filing bankruptcy? The key is time.

February 11, 2021 - The FHA and HUD have announced new waivers for rules found in HUD 4000.1 that would, when there is not a global pandemic to deal with, require in-person transactions or other contact. There has also been an extension to the deadline  to request home loan forbearance.

February 8, 2021 - In the era of COVID-19, some real estate blogs report an increase in transactions where the buyer and seller negotiate the sale of a home without the buyer ever having set foot on the property. Almost two thirds of those who bought real estate in 2020 did so this way.

February 5, 2021 - A One-Time Close construction loan is a way even a first-time home buyer can choose to build a new home instead of buying someone else’s existing property. These mortgages do require higher FICO scores and require more time before move-in day than a typical home purchase loan.

February 3, 2021 - The FHA and HUD announced extended foreclosure relief for borrowers affected by the global coronavirus pandemic, and in any situation where home owners need mortgage relief the scammers begin coming out of the woodwork.

February 1, 2021 - The fact that rates are still below three percent is great news for anyone who wants to build a home on their own lot, refinance an existing mortgage, purchase a condo unit with an FHA loan or buy a typical suburban home.

January 31, 2021 - People who are protected under DACA laws have the ability to apply for an FHA home loan. The property must be the borrower’s principal residence and they must be eligible to work in the U.S. This is a major change from previous FHA policy.

January 29, 2021 - 2021 is THE year for some to refinance. FHA mortgage loan interest rates are reported at a best-execution (which means that ideal borrower qualifications are assumed) 2.30% and while those numbers are bound to change, it’s an indicator of where rates have been so far this year.

January 28, 2021 - Some borrowers want to buy or refinance a fixer-upper home and that is where the FHA 203(k) Rehabilitation loan and the FHA 203(k) Rehabilitation Refinance loan can help. You can use it to refinance your current home and get money to accomplish FHA and lender-approved upgrades.

January 27, 2021 - Finance blogs and mortgage writers have noted that in recent months mortgage rates have not moved directly in tandem with the ups and downs of Treasuries, but that a correction of sorts would be forthcoming at some point.