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 Loans, Tax Liens, and Other Credit Issues: A Reader Question

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A reader asks, “Iím trying to get my credit re established after a BK in 2011Ö3.5 years thus far. Iíve had a 12 month secured loan at my credit union, and Iíve had a non secured card for just over ...

FHA Streamline Refinancing Loans and Delinquent FHA Mortgages

In our last blog post we examined FHA loan rules for skipped payments and delinquent mortgages with regard to an FHA refinance loan. HUD 4155.1 Chapter Three addresses these issues in general, stating the FHA requirement that, “The borrower must ...

Missing Payments On FHA Loans Prior To Refinancing

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One common question about FHA refinance loans involves skipping payments. The ability to skip a payment prior to getting a refinance loan seems like an attractive option to many borrowers, and for those who have become delinquent on home loans. ...

FHA Loan Rules For Refinancing and Reverse Mortgages: A Reader Question

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A reader asks, “We were told to get a reverse mortgage, while applying for a reverse mortgage my husband was under the impress that we did not have to make a mortgage payment. He did not make 2 payments. We ...

FHA, HUD Announce Settlement In Housing Discrimination Case

FHA DISCRIMINATION SETTLEMENT

The FHA and HUD have announced a settlement in a New Hampshire housing discrimination case. According to HUDNo.14-089, a tenant filed two housing discrimination complaints against TKB Properties and the New England Family Housing Management Organization. Those complaints were settled ...

FHA Loan Income Requirements: A Reader Question

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A reader asks, “My spouse is waiting an immigration process. Is there any way we can count all or partial income? My credit is at $800 and we have no other debts.” This is a difficult question to answer without ...

FHA Loans And Escrow Requirements: A Reader Question

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A reader asks, “I am trying to cancel my escrow acct. with (my lender) due to them selling my Mortgage loan to an undesirable finance company called (name deleted). I was informed that all FHA loans are required to have ...

FHA Loan Rules For Credit, Short Sales, Foreclosures: A Reader Question

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A reader asks, “My husband and I are looking to potentially buy a manufactured home already on some land. The home itself appears to meet the requirements stated above. The mortgage loan officer is stating that we do not qualify ...

FHA Loans In Community Property States: A Reader Question

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A reader asks, “We have applied for an FHA loan. We live in Texas and my husband has a qualifying score to be approved along with the income. My question is that I have prior to marriage collection accounts and ...

FHA No Cash-Out Refinances With Appraisal Required Part 2

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In our last blog post we discussed some of the basic rules for FHA no-cash out refinances with an appraisal required. Those guidelines include rules on† how lenders are to deal with subordinate liens such as a home equity line ...

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