Articles and news about FHA loans and HUD requirements. FHA loans are great for first-time homebuyers.

FHA Home Loans On Investment Properties: A Reader Question

A reader asks, “As a homeowner, can I purchase an investment property with a FHA loan? FHA loans for single-family homes are designed for principal residences, which means the borrower must intend to live in the home as his or …

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Paying The Up Front Costs Of Your FHA Loan

The FHA loan program is designed to help borrowers get into an affordable home. However, those new to the FHA loan program might not realize there are up front expenses which must be budgeted for; unlike the VA loan program …

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Adding Repair Costs To An FHA Home Loan

When you want to purchase a home with an FHA guaranteed home loan, the property you want to buy must be appraised to determine its eligibility for the loan. A home that does not meet FHA minimum property requirements may …

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FHA Case Number Cancellation: A Reader Question

A reader asks, “Is it possible for the previous lender to cancel the FHA Case Number?” There is a bit of detail missing from this question that makes it a bit difficult to answer properly–is the reader asking whether a …

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FHA Loan Rules: Qualifying Commission Income

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There are many questions about who can qualify for an FHA mortgage loan. One type of question involves whether FHA rules have a minimum income requirement (they do not) and other types of FHA loan questions involved what kind of ...

How Long Are FHA Appraisals Valid? A Reader Question

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A reader asks, “Our home was on the market, the buyer got an FHA Appraisal, their financing fell through yesterday, the appraisal was done last week, Will the new buyer who is FHA also have to get a new appraisal ...

FHA Loans: Can The Seller Pay Closing Costs?

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There are plenty of expenses related to buying a home that house hunters need to save up and/or budget for–loan fees, appraisal expenses, certain types of insurance, even moving expenses should be factored into the equation. But can the seller ...

HUD Announces Settlement In New Jersey Lending Discrimination Case

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The FHA and HUD have announced a settlement in a case involving a New Jersey mortgage corporation that allegedly discriminated against home loan applicants based on disability. According to the press release HUDNo.14-098, ” The U.S. Department of Housing and ...

FHA Loan Credit Report Rules

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When an individual borrower applies for an FHA home loan, the lender needs his/her employment data, pay stubs, and tax information. The lender will also pull copies of the applicant’s credit reports. But what happens when two people apply for ...

FHA Loan Employment History Rules: The Basics

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We get many questions on a regular basis about the FHA loan program’s rules for employment. Is there a minimum required employment time a borrower must have in order to qualify for an FHA mortgage? The FHA loan rules for ...

FHA Loan Approval, FHA Loan Denial: The Process

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When you apply for an FHA loan, sometimes the hardest part is waiting to hear back from the lender that the loan has been approved and all can move forward. Did you know that FHA loan rules have a process ...

FHA Loan Employment Rules: A Reader Question

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A reader asks, “I am currently living if Florida and wish to try to get an FHA to buy a home in Illinois when I return there next year. I am a nurse and I have heard you must be ...

Who Can Get An FHA Home Loan?

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Do you know who is considered legally eligible to apply for an FHA home loan?There are many myths about FHA home loans. One type of myth involves the basic eligibility for an FHA mortgage. Some mistakenly believe the FHA is ...

FHA Refinance Loans: How Much Is The Maximum Loan Amount?

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One important question on the minds of all borrowers looking to refinance a home loan with an FHA loan is “how much can I borrow?” In many cases this question is important to the borrower because he or she wants ...

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