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 Mortgage Rates and Recent Trends

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Is now the right time to refinance your FHA or conventional home loan? Is now the best time to look into a new purchase FHA mortgage? Recent FHA loan rate trends do seem to point that way with rates having ...

Basic FHA Condo Loan Rules

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If you’ve never considered owning or purchasing a condo unit before, you might be surprised to learn that the FHA single-family loan program does permit the purchase of approved condo units with an FHA loan. The rules for condo loans ...

FHA Loan Modification: A Reader Question

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A reader asks, “I have an FHA loan serviced by ******. I am trying to modify my loan. The Bank told me that I was eligible for modification. I repeatedly send all the forms, that they asked me to send. After ...

FHA Mortgage Loan Interest Rate Trends For October 13-17 2014

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If you are interested in an FHA home loan this week or have been keeping an eye on FHA mortgage loan rates, you know this has been a particularly good time for mortgage rates. For a large part of the ...

HUD Awards Millions To Help Fight Housing Discrimination

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In recent weeks we’ve seen a variety of press releases from the FHA/HUD discussing settlements in cases where HUD investigated alleged violations of the Fair Housing Act and other anti-discrimination housing laws. Now, the Department of Housing and Urban Development ...

FHA Loan Reader Questions: Minimum Property Requirements and Refinance Loan LTV

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Sometimes we get lengthy reader questions that require detailed answers, and other times we get quick, easy-to-answer questions. Today we field two of those from readers who want to know some FHA loan basics. Our first reader question: “What are ...

FHA Loans and “Reasonable Commuting Distance”: A Reader Question

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A reader asks, “What is the maximum commuting distance allowed for a FHA financed primary residence?” This question doesn’t have a set answer, since the FHA does not spell out an exact mileage amount or specific driving time that would ...

FHA HECM Loan Closing Costs: A Reader Question

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A reader asks, “What are the standard closing costs for FHA/HUD/HECM for my property with market value of 510,000.00 with 240,000.00 in debt?” FHA loan closing costs are not standardized–they vary depending on the market, the lender, the nature of ...

FHA Home Loans and Maternity Discrimination: The Wells Fargo Case

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The FHA and HUD have taken a special interest in ending home loan discrimination against those who are pregnant or on maternity leave. Since 2010 HUD has received nearly 200 maternity leave discrimination complaints; the Fair Housing Act makes it ...

FHA Mortgage Loan Rate Trends For The Week Ending October 10 2014

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When it comes to FHA mortgage loan rates–or mortgage rates in general for that matter–last month the rate trends seemed to be centered around small, persistent upward pressure on mortgage rates. In the earliest days of October we seem to ...

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