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 …

009009

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 …

paying-the-up-frontpaying-the-up-front

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 …

adding-repair-costsadding-repair-costs

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 …

fha-case-numberfha-case-number

FHA Announces 2015 FHA Home Loan Guaranty Limits

093

The FHA and HUD have announced the loan guaranty limits for 2015. FHA Mortgagee Letter 2014-25, which announces 2015 limits and policy for single-family “forward loans” for new purchases, FHA Streamline loans, and Home Equity Conversion Mortgages (HECMs). According to ...

FHA Loan Limits: A Reader Question

097

A reader asks, “I only want about 40,000. What kind of credit score would I need? Thanks so much.” In many cases borrowers will typically find that lenders require average credit scores of around 620 or so (or better), but ...

FHA “Personal Loans”? A Reader Question

087

A reader asks, “My credit scores a 654 i have a car loan at 22000 where i pay 328 amonth and have a debt collecter who ive already payed but still shows on my credit report. Is there any way ...

FHA Loan Income Requirements: A Reader Question

109

A reader asks, “I would like to know how can I get a FHA Loan if my husband and me just make 40.000 a year. I went on bankruptcy in Oct 2011. Right now I have no debts, no car ...

FHA HECM Loan Changes: A Reader Question

107

A reader asks, “I have been trying for a few years now to obtain a FHA reverse mortgage for my condo in Staten Island…We were told that “spot” reverse mortgages are no longer available. Since our condo association will not ...

FHA Appraisal Appeals: A Reader Question

091

A reader asks, “A buyer for my property secured an FHA approval and had a FHA appraisal performed. The appraisal was well below the contract price, so much so that it was below the County’s tax assessed value. Better comps ...

FHA Appraisals: A Reader Question

099

A reader asks, “I had moved out of my home while renovations were done to my property prior to getting an FHA re-fi I had an FHA appraisal done immediately after the repairs were completed.”” “However now the lenders says ...

FHA Loan Interest Rate Trends

099

Plunging oil prices—plus stock market reaction to those lower oil prices–are among the factors over the last five trading days that have affected FHA mortgage rates. FHA loan interest rates have fallen to year-long lows, best-execution. There are other factors that can ...

HUD Announces Changes To Making Home Affordable Program

059

If you go to www.FHA.gov and look under the Press Releases section, you’ll find a recent update to the HUD Making Home Affordable program–an update that could mean thousands of dollars for some who take part in that HUD program. ...

FHA Loan Credit Issues: A Reader Question On Disputed Accounts

087

A reader asks, “I would like to know how to get an FHA loan, I had a Bankruptcy discharged in Aug. 2010. This is my problem I got a credit card to improve my credit score. I was paying faithfully, ...

{mt-289144}