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New FHA / HUD Guidelines will insure new increased loan amounts based on your county and state. Qualifying customers can now apply for an FHA Jumbo Loan.

FHA Mortgage Loan Rates

October 13, 2019
FHA Rates for October 13, 2019
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FHA.com is a privately owned website, is not a government agency, and does not make loans.

FHA Jumbo Loans

Borrowing the FHA Loan Maximum Amount

New FHA / HUD Guidelines will insure new increased loan amounts based on your county and state. That means you can take advantage of new maximum loan limits for FHA loans. Qualifying customers can now apply for an FHA Jumbo Loan up to the maximum allowed by FHA. You can apply for a home loan with 3.5% down under new FHA loan limits.

A sampling of FHA approved lenders show the following qualifying guidelines:

  1. Qualified borrowers pay for closing costs plus down payment covering the 3.5% statutory minimum.
  2. Standard FHA guidelines and regulations apply, yet many lenders do require a 580 FICO score.
  3. For greater loan amounts on purchases, minimum FICO scores increase to 600 on Purchase, Rate / Term refinances and to 640 on cash-out refinances.
  4. Maximum Debt to Income Ratio's are 43% on the back end.
  5. No down payment assistance on loan amounts over $484,350.
  6. No non traditional credit.
  7. Declining Markets: Two appraisals will be required when the loan amount, excluding upfront MIP, will exceed $484,350 and the LTV equal to or greater than 95%.

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Tips to Get a Better Refinance Loan

September 30, 2019 - Do you need to refinance your home? There are some important steps you can take to help yourself get the best deal possible when trying to refinance. A bit of planning and preparation will go a long way toward helping you get the best rates and terms possible on your refi loan.

Reasons Why Home Loan Interest Rates Bounce

September 27, 2019 - In the earliest days of September 2019, mortgage loan interest rates were being reported in some circles as the best in three years. A week later, rates were suddenly pushing higher. Rates become more important when you are about to enter into a mortgage loan interest rate lock commitment with the lender.

Who Is Eligible for an FHA Disaster Loan Modification

September 25, 2019 - When a disaster strikes, it is crucial that FHA borrowers contact their lenders as quickly as possible in the aftermath to make arrangements for the existing mortgage. Yes, disaster-based home loan relief is possible, but it is not automatic and you must apply for this relief with your lender.

Five Questions About FHA Mortgage Loans

September 24, 2019 - It’s easy to understand why some real estate shoppers haven’t decided what kind of mortgage loan they want to apply for when they start the house hunting journey. There are many options, both FHA and non-FHA.