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

Articles and news about FHA loans and HUD requirements.

Well Water: FHA Loan Questions

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A reader asks, “FHA use to only require that these top items need to pass. Lead (first draw), Nitrate, Nitrite, Total Nitrate/Nitrite,Total Coliforms, Fecal Coliforms or E. Coli. Is this still true? I am hearing that a full water panel ...

HUD Announces Final Rule For Equal Access

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The Department of Housing and Urban Development (HUD) has announced a new final rule that promises important protections for all Americans seeking housing, regardless of their sexual orientation or gender identity. According to a press release on the HUD official ...

FHA UFMIP: A Reader Question

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A reader asks, “I want to purchase at home for 141,000 and I am paying the 3.5 down payment which totals it 136,065. How much will I pay in Up Front mortgage and annually MIP. If I pay the UFMIP ...

FHA Loan Questions: FHA Lenders

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A reader asks, “Do you have a local list of approved FHA lenders for first time home owners in the amount of $50,000.00 and lower?” This is a common type of question; we get asked this sort of thing quite ...

Interest Rate Trends: Higher Ahead Of Fed

Mortgage Loan Rate Trends

Mortgage loan interest rates moved a bit higher on Tuesday ahead of Wednesday’s scheduled Fed announcement, which can and has influenced mortgage rates (depending on investor reaction to the contents of such announcements). Most likely borrowers affected by today’s increase ...

FHA Loan and Monthly Debt

FHA loan

In order to insure an FHA loan applicant is a good credit risk, the lender must review the potential borrower’s FICO scores, employment, and debt-to-income ratio. The debt ratio is an important part of the overall determination for lenders to ...

Down Payment Rules For FHA Loans

FHA loan down payment

FHA home loans differ from conventional mortgages in many ways, and one of those ways is that a lower down payment is required with FHA mortgages than for many conventional loans. A conventional mortgage may require a down payment of ...

FHA Mortgage Loan Rules: Business Debt

mortgage loan and business debt

When your loan officer reviews your financial details in order to make sure you are a good credit risk for a mortgage loan, there are many factors to consider. Some borrowers have less debt than others, and some debts are ...

Interest Rate Trends: Unchanged To Slightly Higher

Mortgage Loan Rate Trends

Mortgage rates closed out unchanged for some, higher for others, depending on the lender. After some steady upward pressure on rates, we’ve seen both conventional and FHA mortgage loan interest rates affected ahead of an important week for rates with ...

HUD Announces Fair Housing Protections For Borrowers With Limited English Proficiency

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It’s known as “LEP” or “limited English proficiency, and has been an issue that directly affects legally binding agreements including home loans for as long as there have been such arrangements made in the United States. But now, LEP is ...