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In 2018, HUD made home ownership more affordable for millions of Americans with increased loan limits in 3,011 counties due to higher housing prices. FHA limits inform borrowers how much is available for an FHA home loan.

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August 17, 2018
FHA Rates for August 17, 2018
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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!

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FHA Loan Articles and Mortgage News

FHA Home Loans and HOA Agreements

August 1, 2018 - Borrowers who want FHA condo loans, or who buy homes in neighborhoods that have homeowner associations may be required to sign agreements for maintenance of common areas, agreements not to radically alter the exterior aesthetics of the home, or other covenants.

How Soon After Closing Can I Refinance My Home Loan?

July 31, 2018 - How soon can I refinance my home loan? This is a question that’s on the mind of anyone who wants to get a lower payment or get out of an adjustable rate mortgage (ARM) and into a fixed-rate FHA home loan.

Need Credit Repair Before Your FHA Loan Application?

July 28, 2018 - FHA mortgages have more forgiving FICO score requirements, it’s true, but lender standards will also apply and it’s crucial to examine your credit and adjust your credit habits long before you apply for a mortgage loan.

Share a Home Purchased With an FHA Mortgage

July 25, 2018 - For those who want to purchase a home to share, there are several options that may be considered with an FHA mortgage. They include having several co-borrowers, with the caveat mentioned above that all applicants must financially qualify.

FHA Rehab Loans and the Best Remodeling Projects

July 24, 2018 - Are you interested in remodeling your home with an FHA Rehab loan? These FHA loans are available as purchase loans for your next home or as a refinance loan for your existing property. FHA loans allow the borrower to apply for a rehab loan to repair or remodel property in two different ways.

What Is an FHA Home Appraisal?

July 23, 2018 - New purchase loans require the lender to determine the fair market value of the property. The appraisal helps the borrower know whether the asking price of the home is higher than it should be compared to similar homes in the area, but the FHA appraisal is not a tool for the borrower.

What If I Can't Afford a Down Payment?

July 22, 2018 - FHA home loans come with a minimum down payment requirement which an vary depending on the borrower’s credit scores, lender requirements, and other factors. The smallest down payment possible on an FHA mortgage loan for a new purchase is 3.5% of the adjusted value of the home.

Should I Rent a Home or Buy With an FHA Mortgage?

July 21, 2018 - That question gets a different answer depending on the housing market you live in, but some published reports claim some renting hotspots such as those in Orlando, Florida and Salt Lake City, Utah are seeing rental increases in ranges as high as $800-$1,000 more per month with a renewed lease.

Debt Ratios and Mortgages for Disaster Victims

July 20, 2018 - FHA 203(h) disaster relief loans have similar qualification requirements as standard FHA purchase or refinance loans, but offer more lenient credit and down payment requirements due to the circumstances surrounding the loan application.

When Is a Consultant Required for Certain FHA Loans?

July 19, 2018 - When is a consultant required for certain FHA home loans? Consultants or similar third-party experts are required in some cases when there is construction or installation work to be done on a home to be purchased or refinanced with an FHA mortgage loan.

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