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FHA loans do not come directly from the FHA. Instead, the FHA is in the business of guaranteeing loans-reducing the risk to lenders and offering increased borrowing power to qualified applicants. The FHA loan is also a good bet for newly married couples

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December 11, 2019
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FHA.com is a privately owned website, is not a government agency, and does not make loans.

How Do I Borrow Money From the FHA?

FHA Common Question #7

FHA loans do not come directly from the FHA. Instead, the FHA is in the business of guaranteeing loans-reducing the risk to lenders and offering increased borrowing power to qualified applicants. This power includes getting better interest rates thanks to the FHA home loan insurance. FHA loans are particularly helpful for people just out of college who want a home, but have little or no money saved for a down payment.

The FHA loan is also a good bet for newly married couples, and also those who have had credit problems in the past because of foreclosure or bankruptcy. You can get a wealth of information from a qualified lender, but the first thing you should do is to check out your credit rating and get a list of lending limits for FHA loans in your area. These limits vary from state to state, and may even vary by county depending on where you live.

NEXT:  How Do I Pre-qualify for an FHA Home Loan?

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FHA Loan Articles and Mortgage News

FHA Loans for 2020: Mortgage Expenses You Can Plan For

December 8, 2019 - If you are planning for a new home loan in 2020, saving up early for your loan expenses can be very useful. You may not be able to anticipate every expense for the new loan, but if you buy or build a house in 2020 you’ll want to prepare for some known mortgage-related expenses.

Construction Loans for 2020: Build a House on Your Own Land

December 6, 2019 - Is 2020 the year you have a house built on your own lot with a loan 3.5% down payment? If you are a qualified veteran, that down payment amount is 0% to build on your own land as long as the appraised value matches or is higher than the asking price.

Problems That Can Delay Your FHA Home Loan (Part Two)

December 4, 2019 - In a recent article we discussed issues that can delay the approval or closing date of your FHA home loan. Do you know what these potential problems are? In Part One we discussed how bankruptcy, foreclosure, and appraisal problems may affect your mortgage loan.

Problems That Can Delay Your FHA Home Loan (Part One)

December 3, 2019 - When applying for an FHA home loan, there are issues that can slow down the progress of your mortgage, whether you are applying for a mobile home loan or an FHA One-Time Close Construction Loan. Some may be preventable in the planning stages of your loan.

FHA Loans in 2020: Pay Attention to Your Debt-To-Income Ratio

December 2, 2019 - Your FHA loan options in 2020 include new purchase loans, reverse mortgages, cash-out FHA refinance loans, and the One-Time Close construction loan if you want a house built for you. But planning ahead is key and you will need to examine and work on the amount of debt you carry