FHA Loan for Homeowners
Take the Steps to Get Your Mortgage
Purchasing a home is one of life's major landmarks and for some, it is even a dream come true. At FHA.com we understand the magnitude of this decision and it is our goal to make your transition into home ownership unforgettable. Regardless of whether this is your first or your fifth home purchase we will do our best to ensure that getting you into your new home is a pleasant and memorable experience.
FIRST STEPS
When you begin to seriously consider purchasing a new home it is important that you follow some simple steps to make sure that the process runs smoothly.
The first thing you should do is an analysis of your debt to income ratio. This important step will let you know what type of home you can afford based on your monthly income and expenses.
The next important step in purchasing a new home is to get pre-approved for a home loan. The peace of mind that comes with knowing that your mortgage loan and credit report have been approved will allow you to shop for your new home with confidence. And when you find a home and are ready to make an offer the fact that you have already been pre-approved for your loan amount will give the seller confidence in you as a buyer.
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FHA Loan Articles and Mortgage News
July 21, 2021 - Are you concerned that your lender might deny your home loan? Do you know why your loan might be denied and what you can do about it ahead of time? Reasons may include late or missed payments on rent or past mortgages, low credit scores, or houses that cannot pass the appraisal process.
July 14, 2021 - What are the benefits of an FHA mortgage loan? There are many things that borrowers may view as helpful, more than may be viewed as pro-consumer, but what are the actual benefits of an FHA mortgage over other types of home loans?
July 10, 2021 - USDA loans are intended for purchasing a home in agency-defined rural areas. FHA home loans feature no such restrictions on where you may purchase the home, though there are typical considerations for certain natural disaster zones, coastal barrier resource system or protected areas.
July 8, 2021 - If you are looking for an affordable home loan with a low down payment, you have several options depending on your circumstances, financial goals, and credit history. Yes, you have conventional mortgages as an option, but there are also USDA and FHA mortgages.
July 6, 2021 - Manufactured and/or modular homes are often sold and transported in sections to be assembled on-site. Some buyers may wonder if the assembly counts as construction, and would such construction reclassify the manufactured home in the eyes of the FHA?
