Weighing up the pros and cons will better help you understand whether your unique financial situation best suits an FHA loan.
Welcome to our FHA mortgage resource page! Here you will find great articles on FHA, FHA refinance, FHA streamline refinance, and a ton of how-to articles describing the lending process from start to finish. You will also find articles of commonly asked questions by people just like you. We try hard to answer questions about FHA loans in our blog posts. We are here to help make the home buying and refinancing process as pain free as possible. If you can’t find what you are looking for here, please feel free to Contact Us with any questions. We are here to help!
Before you consider buying a condo, it is important to find out if the condo has been approved by Fannie Mae or Freddie Mac, if you are going to use a conventional loan. If you are using a government-insured loan from the FHA, VA, or USDA, the condo project has to be approved by their requirements.
The option of using a non-occupying co-borrower on FHA, Fannie Mae or Freddie Mac mortgage loan opens up homeownership to more borrowers. These are often first-time home buyers who wouldn’t otherwise be able to qualify so soon.
We look at FHA, VA, and USDA, which are the three main government-insured loan programs, to help you pick the right program for your situation.
Understanding these FHA minimum property requirements will help home buyers and sellers through the appraisal process and not be alarmed.
The FHA 203k loan is a good way to buy a home and also get the extra money that can be used for renovations, repairs or both. There are good points and bad points to the loan and all of these should be considered before making a decision to purchase a property.
The following will compare an FHA loan vs Conventional mortgage, not to show that one is better than the other, but to highlight the strengths of each mortgage.
Learn how to purchase a fixer-upper and totally remodel it! With a little insight and some negotiation skills, it is possible to find that diamond in the rough.
FHA guidelines prospective buyers need to keep in mind when shopping for their home. FHA approved lenders are able to offer mortgages with enticing rates for people that might not qualify for a Fannie Mae or Freddie Mac home loan.
While the cash gift is not only allowed but encouraged by the Federal Housing Administration, there are rules to how the money can change hands and how it is all documented. If the steps are not followed it is very likely that the home loan will be rejected.