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The FHA loan guidelines may soon change to include options for lower-income borrowers. If you feel out of touch with your FHA options since the last time you checked, do some additional research to see what has changed with HUD and the FHA.

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June 28, 2017
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How Has FHA Changed Over Time?

FHA Common Question #35

The best example of the FHA's constant evolution to help serve potential homebuyers is also one of the most recent. HUD proposes to amend the National Housing Act to allow the FHA to offer FHA insured mortgage options to borrowers who have low incomes and are often stuck with high-risk mortgages in order to purchase a home. If the FHA has its way, it will be able to offer these borrowers a better deal than the 'non-prime' lenders, and more incentive to purchase a home.

The FHA loan guidelines may soon change to include options for lower-income borrowers. If you feel out of touch with your FHA options since the last time you checked, do some additional research to see what has changed with HUD and the FHA. You'll be glad you did.

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FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
When the Seller Wants to Help Pay Your FHA Closing Costs

June 12, 2017 - FHA loan rules in the FHA Handbook limit the contributions of an interested party, who may be the seller or any other person or party who wants to contribute to closing costs. These contributions are limited to a maximum of six percent of the sale price of the home.

Are FHA Loans Allowed When One Family Member Buys a Home From Another?

May 29, 2017 - FHA loan rules have special requirements for home loan transactions that may be termed “identity of interest”. These transactions, which are sometimes allowed, are between parties with an existing business relationship or between family members.

Is it Possible to Apply for Another FHA Mortgage?

May 22, 2017 - Some borrowers experience some confusion over the rules for FHA loans in cases where a homeowner wants to think about applying for an FHA mortgage to buy a second home. What are the FHA loan rules that apply in such circumstances? 

Verifying Alimony and/or Child Support for FHA Loans

May 16, 2017 - The FHA Loan Handbook states that a borrower may use alimony/child support income to qualify for an FHA home loan if it can be verified and meets FHA requirements. How does your FHA lender may consider alimony and child support as part of a borrower’s effective income? 

How FICO Scores Affect Your FHA Home Loan

May 12, 2017 - The FHA Handbook instructs lenders that a borrower is technically qualified for maximum financing  at the required minimum 3.5% down payment when the applicant has a FICO score at 580 or higher.