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FHA mortgage guidelines state quite clearly that you also have the right to know what monies are refundable to you should you decide to cancel the contract. Ask up front and know what your costs should be. You will be glad you did.

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May 22, 2017
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What Are My Rights? (part two)

FHA Common Question #45

Some people feel a bit guilty for trying to shop around for a loan. According to the FHA, you are not only helping yourself by shopping around, it is absolutely your right to do so. Never allow a lender to pressure you into taking a loan without exploring your options. An FHA home mortgage loan is a big step. You'll want to sign the right contract for the right amount of money.

FHA mortgage guidelines state quite clearly that you also have the right to know what monies are refundable to you should you decide to cancel the contract. Ask up front and know what your costs should be. You'll be glad you did.

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FHA Loan Articles and Mortgage News

Read About FHA Requirements, Updates, and Guidelines
FHA Loan Appraisal Basics

April 10, 2017 - The FHA appraisal is a necessary process that can be mysterious to some potential FHA borrowers. What purpose does the FHA appraisal serve? It is not as complete as the optional (but critically important) home inspection, and the results of the appraisal should not be mistaken for a home inspection.

FHA Loans and FICO Scores

April 7, 2017 - FICO score issues are a common source of stress to potential FHA borrowers. Everyone wants to know if their FICO scores are high enough to qualify for an FHA mortgage. Is it possible to qualify for an FHA loan or refinance loan with credit scores from 500 to 579? Or are higher scores required?

FHA Loan Rules for Second Homes

April 5, 2017 - If you are interested in an FHA mortgage, it’s important to understand that occupancy is a key issue. All FHA loan borrowers are expected to occupy the home as their primary residence and are usually required to take possession of the home within 60 days of the loan closing.

Child Support Income, Alimony, and FHA Loans

April 3, 2017 - There are specific guidelines for participating FHA lenders who must include child support, alimony, or maintenance payments as part of loan processing. Borrowers who must pay child support, or other forms of support will be required to furnish documentation for their payments.

FHA Loan Employment Guidelines

March 31, 2017 - Are you worried about being denied an FHA loan because of a gap in employment? While FHA loan standards for employment in HUD 4000.1 are not the only standards that are recognized, it is good to know what FHA loan rules instruct the lender to do as a minimum.