FHA Loan Requirements

June 26, 2021 - Why is it so important to know your rights under the federal Fair Housing Act? Violations of this act include the obvious--discrimination at any stage of the housing process including lending, rentals, housing services, etc. is illegal under Fair Housing laws.

June 25, 2021 - FHA loans differ from other mortgages for a variety of reasons, but the most important things a new borrower or a repeat borrower should know about the FHA home loan program include the fact that FHA loans are for any borrower who can financially qualify.

June 24, 2021 - The appeal of a mobile home or manufactured home is, for some borrowers, that these loans are smaller than the type of mortgage you would need to buy a condo unit or townhouse. Smaller loans, and lower monthly payments are just two of the incentives for an FHA mobile home loan.

June 22, 2021 - If you don’t know the contents of your credit report, you aren’t ready to apply for a mortgage loan, an auto loan, or even a personal line of credit. Your lender will review not only your FICO score, but your credit activity for at least the last 12 months leading up to your loan application.

June 19, 2021 - If you are considering an FHA mortgage but need down payment help, there are programs offered by state and local agencies that may be able to help. Not all of them meet FHA loan guidelines--you’ll need to make sure that the program you choose meets the sourcing requirements for the money.

June 18, 2021 - When exploring home loan options, some borrowers want a loan that has the lowest upfront costs possible. This makes sense if money is tight, or when a borrower has goals for their money and a down payment would hurt those plans.

June 15, 2021 - The Department of Housing and Urban Development has announced changes to its policies that govern consideration for those who seek FHA home loans while in the United States under the Deferred Action for Childhood Arrivals (DACA) program.

June 14, 2021 - Did you know that as a first-time home buyer you have the option to purchase a condo unit with an FHA mortgage? There are also options for first-time borrowers to apply for FHA rehab loans for renovations and even an FHA home loan that allows you to build instead of buying.

June 11, 2021 - Renting is an important step toward home ownership--some borrowers must rent while looking for a forever home, others choose to rent until they feel the time is right to commit to a mortgage. In either case, housing discrimination hurts these future homeowners, too.

June 10, 2021 - There are several FHA loan options available when it is time to refinance a home loan. Two of those are FHA cash-out refinancing and FHA Interest Rate Reduction Refinance loans. How do these two refinance options compare and which should you choose?