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Anyone who tries to persuade you to make false statements on your loan paperwork is not only violating FHA home loan guidelines, they are breaking the law. Never deal with anyone who encourages you to be dishonest on your paperwork.

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June 28, 2017
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What About Dishonest Lenders?

FHA Common Question #42

It's true, when you go off in search of an FHA approved lender, you may encounter some unsavory practices along the way. Perhaps you started looking at a non-FHA home loan provider without meaning to, or you found what sounds like a better deal. Even if you are getting a legitimate offer, be sure to follow some good FHA home loan/HUD advice. For starters, never sign any document you don't understand. Ask for a complete explanation of all terms and conditions. If you get the runaround when asking for clarification, do not sign the documents. If you are unsure about the reputation of a particular lender or seller, it's a good idea to consult some real estate agents in your area to check the references of the agency or seller in question. You may learn a great deal based on the prior experiences of the agents you speak with! Anyone who tries to persuade you to make false statements on your loan paperwork is not only violating FHA home loan guidelines, they are breaking the law. Never deal with anyone who encourages you to be dishonest on your paperwork. FHA guidelines were created for a reason. Any lender who has a problem following them to the letter isn't worthy of your business.

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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.