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 Reader Questions: Verifiable Income

2015-13

A reader asks, “can i use my business bank account as varifiable income.?” Unfortunately this question is quite open-ended and doesn’t provide enough detail for us to answer more definitively than to say “it depends”. For example, does the business ...

FHA Home Loans and Tax Lien Repayment Plans: A Reader Question

2015-14

A reader asks, “I have a payment plan on a tax lien from 2009 which I have been paying on time for a few years. Other than that, my credit is perfect. I am wondering if this would be okay ...

FHA Refinance Loans For Investment Property? A Reader Question

2015-32

A reader asks, “I have rental property with a mortgage balance of $26000. The property shows a current value of $98900. I would like to refinance but seem to have a problem getting it refinanced? What would you advise me ...

FHA Loan Rule Questions: Chapter 7 Bankruptcy

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A reader asks, “I had a Chapter 7 Bankruptcy discharged on 09/16/13. My home was not included in the BK. I have owned the home for 3 years and have never missed or been late on a payment. We are ...

FHA Loan Mortgage Rate Trends: Flat Overall

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Since our last report, mortgage loan rates have been flat overall, with the exception of yesterday’s move which saw rates moving higher. Many market watchers and industry professionals have categorized rate behavior as of late as “flat”, “in a rut” ...

FHA Loan Income Rules: A Reader Question

2015-18a

A reader asks, “Where I can find the income limits on FHA loans, if customer is buying for the first time?” This reader question implies two misconceptions about FHA home loans. The first is that there is a preference, advantage, ...

FHA Loan Employment Rules: A Reader Question About Changing Jobs

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A reader asks, “Would I still be eligible for an FHA Loan if I accept a position that with a higher salary with a different employer? Ive been on my current job for almost 7.5 years. My new and current ...

FHA Loans For Mixed Use Properties: A Reader Question

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Many of our reader questions posted in the comments section here come from loan applicants and home buyers, sometimes even sellers, all wanting to know more about certain aspects of the FHA loan process. But one recent question comes from ...

FHA Loan Closing Costs

2015-34

One common question asked about FHA home loans involves closing costs. Many FHA borrowers want to know how much to expect in the form of closing costs, but the simple answer to these question is, “it all depends”. Depending on ...

FHA Loans and Divorce: A Reader Question

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A reader asks, “My soon to be ex is on the deed but were both on the mortgage. He is working with the bank to complete a DIL. Do I have to be notified or agree to this since Im ...

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