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 Rules On Appraisals and Required Corrections: A Reader Question

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A reader asks, “Is the seller responsible to pay for all repairs before closing?” Assuming that this reader question is in reference to required corrections or alterations to a home listed by the FHA appraiser, much depends on the type ...

FHA Mortgage Loan Rules For The New Mortgage Insurance Premium Cuts

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A great deal of reader questions have come in about the FHA’s recent move to cut the annual mortgage insurance premium on FHA loans with case numbers assigned on or after January 26 2015. We thought it was a good ...

FHA Loans and Non-Existent Credit After Bankruptcy: A Reader Question

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  A reader asks, “My wife and I filed chapter 7 and lost our homes to foreclosure in 2009 after having lost our mortgage company in the crash of 2008. We havenít needed credit and havenít borrowed any money since. ...

FHA Refinance Loans: Another Chapter 13 Question

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We have gotten a large volume of reader questions about refinancing a home while in Chapter 13 bankruptcy. Here’s the latest: “We have current mortgage, never behind on payment.†We like to refinance our home mortgage, but we are discharge from ...

Lower MIP On FHA Loans: A Reader Question

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A reader asks, “Whatís the lead time on case cancellation requests? With new case number requests?” The reader is asking about FHA loan case number cancellation requests made possible for a limited time to help qualified FHA borrowers take advantage ...

FHA Mortgage Loan Trends

FHA mortgage loan rates kicked off the week more or less unchanged, best execution-wise–the previous two business days had some improvements in rates following a “consolidation” ahead of a highly anticipated announcement from the European Central Bank that had great ...

FHA Loans, Co-Signing, and Student Loan Debt: A Reader Question

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A reader asks, “I co signed for a student loan for my daughter who has 2 1/2 years left of schooling. This puts her at around 3 years out before needing to start making payments on this debt. iím looking ...

Chapter 13 Bankruptcy and FHA Refinance Loans: A Reader Question

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A reader asks, “Is It possible to refinance while in chapter 13 for a lower rate. We Donít qualify for the government HARP program.” FHA loan rules for getting new loans when it comes to bankruptcy allow the lender to ...

FHA Loans, Seasoning Requirements and Legal Assistance: A Reader Question

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A reader asks, “Have a question on issue of a legal settlement made on property ,, money to settle suit was borrowed on a promossory note and given to attorneys… few months later owner gave a lien to individual in ...

FHA MIP Cuts: Who Is Affected? A Reader Question

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A reader asks, “I am a homeowner with a FHA loan. I bought the house last year, I wanted to know if this will also benefit me or is just for you new perspective home owners? Thanks…” This reader question ...

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