FHA Loan Requirements

November 12, 2020 - There’s been an important change in the scope of work policy for FHA appraisals. The FHA will no longer rely upon desktop appraisals. Exterior-only appraisals will still be accepted as long as the policies have not expired, but the desktop-only approach has been deemed no longer necessary.

November 11, 2020 - Having a credit monitoring service watching your credit report is an extremely useful tool for those who are in the planning stages of a mortgage loan. You’ll want to know if there are issues appearing in your credit report that could stop or even cancel your home loan.

November 9, 2020 - Mistakes and other problems may not be commonplace with most mortgage loans, but in cases where there’s a question or a dispute there is a specific set of steps to take that can help you resolve the issue. The first thing to do is to call your loan servicer to resove the issue.

November 7, 2020 - Are you considering buying a new home this year? There are some important resources you should know before you fill out home loan paperwork. It doesn't hurt to learn about credit monitoring, down payment assistance, mortgage calculators, FHA loan limits, and closing costs.

November 5, 2020 - If you want to buy a home with an FHA mortgage, or refinance an existing home loan with an FHA refinance loan, you don’t have to use your current lender. You can shop around for a lender no matter if you are buying or building a home or trying to refinance.

November 4, 2020 - We’re told again and again that whenever you apply for new credit, your credit score may be hurt slightly by the credit inquiry, and it’s easy to assume that would be true when you check your own credit. But what’s the reality?

November 3, 2020 - The CARES Act offers you mortgage relief in the form of forbearance--also known as mortgage payment forbearance, which requires no documentation to prove financial hardship beyond your claim that you are having the hardship.

November 1, 2020 - Mortgage scams and reverse mortgage scams often feature these third parties approaching home owners, especially those who may be in trouble with their mortgages, with offers to save a home from foreclosure or with bogus offers through a reverse mortgages.

October 30, 2020 - What is the difference between a site condo and an ordinary condo? There are FHA loans for condo units in approved projects and there are also rules in the FHA Lender’s Handbook that address when the purchase of a site condominium is permitted. But what is the difference?

October 28, 2020 - In October, 2020, the Department of Housing and Urban Development and the Federal Housing Administration once more determined the need to extend the deadline for approving a COVID-19 Forbearance or an HECM Extension beyond the original and earlier-modified deadlines.