FHA Loan Requirements

January 10, 2022 - The FHA Cash-Out Refinance loan provides a way to refinance with money back to the borrower at closing time. It’s a way to cash in on the equity you have built up over time for any purpose acceptable to you and the lender.

January 9, 2022 - When you are approved for your FHA home loan, as a first-time home buyer you might be wondering what to expect from your mortgage payments. Starting your homeownership journey should include having a clear idea of what to expect each month from your payment.

January 8, 2022 - There are three separate areas that affect your lender’s decision to approve or deny your home loan application. If you start preparing for your loan in advance and anticipate these three areas, you can help yourself get much closer to loan approval.

January 7, 2022 - There are many things you will want to know about the home loan process before you submit an application for an FHA mortgage loan. One of those important areas? The appraisal process. There are several misconceptions to avoid when considering your appraisal options.

January 6, 2022 - If you have never applied for an FHA mortgage before, you might not know about the FHA Energy Efficient Mortgage (EEM) option for these loans. An EEM is add-on that  provides extra funds for the purpose of installing energy-saving upgrades to a home.

January 5, 2022 - Are you thinking about your options for an FHA mortgage? Borrowers should spend plenty of time examining several aspects of their finances and credit before filling out paperwork or online forms to apply or get pre-approved for an FHA loan.

January 5, 2022 - An FHA loan down payment, for example, must be paid independently of any other closing costs. You can’t pay $400 for an appraisal (this number is for example purposes only, your experience may vary) and expect to have that $400 subtracted from the amount of the down payment.

January 4, 2022 - If you are new to the home loan process and want to apply for an FHA mortgage, you’ll encounter some technical terms that might be confusing at first. But the more familiar you get with the home loan process, the more these new terms will make sense.

January 3, 2022 - In cases where down payment assistance is concerned,  counseling is usually required to make sure the applicant fully understands their responsibilities for the loan. That includes why escrow may be required, and covers payment of property taxes and other expenses related to the home loan.

January 2, 2022 - Want to buy a home with an FHA mortgage but are worried about coming up with your down payment? There are plenty of state and local down payment assistance programs but before you consider applying for one, there are some things you should know.