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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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October 23, 2017
FHA Rates for October 23, 2017
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FHA.com is a private company, 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?

FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
Changes to FHA Loan Rules on Collections and Judgments

October 7, 2017 - In general, FHA loan rules require the lender to determine that judgments are resolved or paid off prior to or at closing. Judgments of a non-borrowing spouse in a community property state must be resolved or paid in full, with the exception of obligations excluded by state law.

Is There a No Money Down FHA Loan Option?

October 2, 2017 - The FHA Single-Family Home Loan program does not feature a no money down option. However, there are state and local programs that may offer assistance to home buyers, first-time home buyers, or home buyers who are in financial need.

FHA Loans, Disability Pay, and Proof of Income

September 25, 2017 - There are many common questions about FHA home loans, and more than a few uncommon ones. Income verification is one area where FHA loan applicants may experience the need for more information.

Are My Tax Returns Required for an FHA Loan?

September 20, 2017 - When you apply for an FHA home loan, there's a list of documents and documentation needed to process an FHA loan application. These are the minimum needed to establish an accurate picture of a borrower's credit and payment history.

Rules for FHA Loans Following a Short Sale

September 9, 2017 - FHA loan rules for new loans following a short sale may seem complex--the rules that apply to you often depend on the status of your mortgage loan prior to the short sale. But, when is a new FHA home loan possible following a short sale?