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FHA home loans are for many different kinds of borrowers including those who have never owned a home before, those who want to buy and renovate, those who want manufactured homes, or condos.

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FHA.com is a privately owned website, is not a government agency, and does not make loans.

Help for First-Time Homebuyers

November 19, 2022

Help for First-Time Homebuyers
Choosing a home as a first-time homebuyer can be tough. New buyers often aren’t sure what to expect, and in an era of rising interest rates and limited housing supply, it's more important than ever to be a fully-informed borrower.

FHA home loans are for many different kinds of borrowers including those who have never owned a home before, those who want to buy and renovate, those who want manufactured homes, or condos

It’s no surprise some feel overwhelmed by the process. Just picking the right housing type can be an issue if you are new to the process.

And that is why so many people wind up making a simple phone call to get them on the path to speaking with a HUD-approved housing counselor

House hunters--not just first-time buyers, either--can call the FHA at their toll-free number, 1-800-CALL-FHA, and request a free referral to a HUD-approved housing counselor who can offer advice on preparing for homeownership.

Housing counseling is NOT just for new purchase loans. Do you need to refinance? Are you trying to refinance and renovate a home at the same time? Are you trying to avoid foreclosure? 

HUD housing counseling services may be an important resource for you, and those services may be provided free of charge depending on your circumstances and the nature of the services rendered.

Applicants should know that for new purchase loans, housing counselors may be permitted to charge a fee, but the HUD official site reminds consumers that housing counseling agencies must provide counseling "without charge to persons who demonstrate they cannot afford the fees" according to the HUD official site.

HUD-approved housing counselors must inform you of the fee structure prior to giving you any services rendered and the fees must be "commensurate with the level of services provided" according to HUD.

Do people do better as homeowners after counseling? Apparently the answer is YES.

Consider one HUD study that found that among 500 people who used housing counseling services, once the home loan was approved less than 20 people out of 500 fell behind on their mortgage payments.

Call HUD today for a referral to an approved housing counselor in your area. You can also explore your options at HUD.gov, the Department of Housing and Urban Development’s official site.

It's good to schedule your housing counseling as early as possible. After you begin house hunting, working with a realtor, and budgeting for your mortgage loan, you will need this advice to move forward. Call 1-800-CALL-FHA to request your referral.

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