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
May 25, 2023 - There are several reasons why a mortgage loan payment might increase. Some borrowers mistakenly assume their home loan payments will never go up, but depending on circumstances, the amount you owe each month may change depending on several variables.
May 22, 2023 - Your income matters if you want to buy or build a home with an FHA mortgage. But there are some misconceptions about home loan approval regarding income. Do you know the difference between the facts and the fiction about home loan income requirements?
May 21, 2023 - The FHA Home Equity Conversion Mortgage, or HECM loan, is a reverse mortgage option for seniors, allowing them to borrow against the value of their home without a monthly mortgage payment. HUD and FHA announced revised HECM rules that allow for faster payments.
May 20, 2023 - Time is running out to apply for FHA loan forbearance due to COVID-19 financial complications. Homeowners with FHA mortgages who experienced pandemic-related financial hardship could apply for relief through FHA loan forbearance options offered during the pandemic.
May 18, 2023 - If you want to buy a home and you’re a first-time home buyer, there are plenty of resources you can use to learn more about buying a home, finding contractors to perform home inspections or renovation work, and credit monitoring services that can help.
