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 6, 2020 - How much do you know about home loan limits and how they work? If you are shopping for a home to buy, an FHA mortgage can help with its lower down payment requirements and more forgiving FICO score requirements.
July 3, 2020 - Ever since Coronavirus lockdown measures were imposed across the nation, lenders and borrowers have had to adjust to a new environment where social distancing forces innovation in common practices such as the home loan appraisal process.
July 1, 2020 - The Federal Housing Administration sets FHA loan limits on an annual basis. FHA home loans have a maximum loan amount that is established in accordance with the National Housing Act. FHA and HUD adjust the limits at the end of the closing year and before the new year.
June 30, 2020 - If you have experienced housing discrimination at any stage in the housing process including renting, home loans, refinance loans, home buying, etc. don’t hesitate to file a complaint of discrimination with the HUD Office of Fair Housing and Equal Opportunity.
June 28, 2020 - The FHA reverse mortgage loan program is known as the Home Equity Conversion Mortgage or HECM for short. Lots of people are interested in reverse mortgages--but who qualifies for the FHA version of the reverse mortgage and how do you know if your home is eligible for the loan?
