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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Fair Housing Act Violations: A Reader Question

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A reader asks, “I am trying to sell my manufactured home and the land it sets on to a couple that are not married from California, the lienholder refuses to do this because they are not married, isnít this a ...

HUD Announces Settlement In North Dakota Housing Discrimination Case

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We post news stories about settlements in housing discrimination cases for several reasons, but one of the most important is to remind borrowers that FHA loan applications aren’t immune from problems such as these. The first line of defense against ...

FHA Minimum Property Requirements: Central Air

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A reader asks, “I am trying to purchase a home with an FHA loan. The central air in the house Iím trying to purchase is not working, however, the owner has window units in each room. They all work and ...

FHA Mortgage Rate News For The Week of September 15 2014

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We’ve seen recent trends in FHA mortgage loan rates towards higher numbers, but this Wednesday was a much anticipated day for the rates as investors and market watchers waited to hear the Fed made a policy announcement. The announcement did ...

HUD Announces Settlement in Housing Discrimination Case

FHA DISCRIMINATION SETTLEMENT

The FHA/HUD official site recently issued a press release stating there was a settlement in a housing discrimination case involving a home loan applicant on maternity leave. According to HUDNo.14-105, “The U.S. Department of Housing and Urban Development announced today ...

FHA Loan Rules: A Reader Question About Septic Systems

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A reader asks, “Does FHA accept aerobic white water septic systems that have been DEC approved?” In general, the FHA minimum property requirements for sewer systems, as listed in HUD Handbook 4940.3 states: “Whenever feasible, connection shall be made to ...

Assessments Versus FHA Appraisals: A Reader Question

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A reader asks, “How is the home value assessed for a 203K, fixer-upper loan? For instance if we bought a home for $200,000, and also borrowed $30,000 in repair funds to improve the home, would the home value continue to ...

FHA Condo Loan Questions

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A reader asks, “I live in a condominium of 275 homes. We are getting complaints from mortgage companies that we are not FHA approved. We meet all legal guidelines that are required just not for FHA approval.” “We were told ...

FHA Down Payment Rules: When More Is Required

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We get frequent questions about FHA loan rules concerning down payments. Borrowers want to know how much money down the FHA requires for a single family home loan transaction, and unfortunately some borrowers mistakenly believe there is a single dollar ...

FHA Loan Myths: Refinancing With Your Existing Lender

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So you have a home loan–a conventional mortgage, VA loan or even an existing FHA loan–and you want to refinance. Some borrowers go right for their existing lender to apply, even if the interest rate or terms & conditions aren’t ...

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