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 Insurance: A Reader Question

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A reader asks, “Mortgage companies have kept sending letters/emails, saying ‘You no longer pay MIP because FHA MIP policy has been changed since May 2014. You have paid unnecessary MIP payments because since you has refinanced for your home 2012.’” ...

FHA Loan Terms and Payment Plans: A Reader Question

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A reader asks, “I am trying to relocate to a new home with my three small children and would like to use an FHA loan to purchase it. I was told about a 40 yr note with yearly payments? Is ...

FHA Mortgage Rate News For The Week of September 22 2014

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September has been a rough month for FHA mortgage loan rates–there’s been an upward trend fueled at least in part by the recent Fed policy statement, which many anticipated as a possible indicator of where rates might be headed (predicting ...

FHA Mortgage Insurance Premiums: A Reader Question

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A reader asks, “I am purchasing a second home using a FHA loan. Why is it necessary to pay for FHA insurance for the length of the loan it is a 30 year fixed mortgage?” While we can’t speculate what ...

FHA Loan Occupancy Requirements: A Reader Question

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A reader asks, “I currently have a 3 year old VA mortgage on my home. Will this disqualify me for a FHA loan on a second home?” FHA loan rules state that the borrower must certify he or she will ...

FHA Appraisals and Loan Approval: A Reader Question

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A reader asks, “In our contract, we agree and stated the sale was as is. The price had been adjusted for this. We listed that the a/c needed repair on the disclosure. I did not want to spend the money ...

FHA Loan FICO Score Requirements: A Reader Question

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A reader asks, “I have a plan to pay off my student loan this year which is 18,000.00. My credit score is 565. This will leave me with 0 debt. Will it also improve my credit score and chances of ...

Fair Housing Act Violations: A Reader Question

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A reader asks, “I am trying to sell my manufactured home and the land it sets on to a couple that are not married from California, the lienholder refuses to do this because they are not married, isnít this a ...

HUD Announces Settlement In North Dakota Housing Discrimination Case

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We post news stories about settlements in housing discrimination cases for several reasons, but one of the most important is to remind borrowers that FHA loan applications aren’t immune from problems such as these. The first line of defense against ...

FHA Minimum Property Requirements: Central Air

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A reader asks, “I am trying to purchase a home with an FHA loan. The central air in the house Iím trying to purchase is not working, however, the owner has window units in each room. They all work and ...

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