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There are many scams that dishonest sellers and lenders use. FHA guidelines are very clear about above-board practices lenders should be using to help you get into an FHA mortgage.

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June 23, 2018
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FHA.com is a private company, is not a government agency, and does not make loans.

How Can I Detect Predatory Practices?

FHA Common Question #47

There are many scams that dishonest sellers and lenders use. FHA guidelines are very clear about above-board practices lenders should be using to help you get into an FHA mortgage. Your bank may be an FHA approved lender, but people do encounter individuals who don't adhere to FHA rules.

If you encounter a questionable person in the pursuit of your FHA home, be sure to report the suspicious activity and consult a housing counselor for advice. The FHA and HUD routinely warn people to stay away from anyone who claims they are your only chance to get into a home. You should also beware of anyone offering you paperwork to sign with blank pages or spaces.

If the closing terms are not what you agreed to, you should not sign. The same goes for someone who tells you that a good deal is only available at a particular lender. Beware of any situation where high-pressure tactics are used. Never sign under those circumstances. Instead, contact the FHA and a loan counselor immediately.

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FHA Loan Articles and Mortgage News

How to Prepare for an FHA Cash-Out Refinance Loan

June 11, 2018 - For those who want to cash in on the value built up in the home over time, the FHA cash-out refinance is an important option to consider. Be prepared for a new credit check and request copies of your credit reports. Then examine your FICO scores and your credit history carefully.

Is an FHA Manufactured Home Loan Right for You?

June 8, 2018 - Is an FHA manufactured home loan right for you? That is a question well worth asking, especially for those concerned that such loans may not be available in certain housing markets. Supply and demand plays an important role in how some lenders approach certain types of FHA loan transactions.

FHA Loan Options to Build or Buy

June 6, 2018 - How many FHA loan options to build or buy are out there for those who need a new home? The number and type of options may surprise you. FHA home loans can be used to buy condo units, mobile/manufactured homes, existing construction properties and also new construction.

FHA Loan Rules for Luxury Items

June 5, 2018 - Regarding luxury items and features in a home, the first and most basic issue is the existence of the pool, barbecue pit, or other similar upgrades. FHA loan rules do not forbid the purchase of a home with these features, but they must meet FHA standards where applicable.

FHA Home Loan Rules for Closing Costs

June 2, 2018 - Closing cost guidelines come into play regarding what expenses are considered part of the borrower’s required cash to close. Closing costs can include a lender’s origination fees, pre-paid items such as per diem interest, and discount points where applicable.

FHA.com Reviews

FHA.com is a one-stop resource for homebuyers who want to make the best decisions when it comes to their mortgage. With our detailed, mobile-friendly site, individuals can access information about different FHA products, the latest loan limits, and numerous other resources to make their homebuying experience easier. Take a look at some of the reviews from other FHA.com visitors!