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 “Personal Loans”? A Reader Question

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A reader asks, “My credit scores a 654 i have a car loan at 22000 where i pay 328 amonth and have a debt collecter who ive already payed but still shows on my credit report. Is there any way ...

FHA Loan Income Requirements: A Reader Question

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A reader asks, “I would like to know how can I get a FHA Loan if my husband and me just make 40.000 a year. I went on bankruptcy in Oct 2011. Right now I have no debts, no car ...

FHA HECM Loan Changes: A Reader Question

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A reader asks, “I have been trying for a few years now to obtain a FHA reverse mortgage for my condo in Staten Island…We were told that “spot” reverse mortgages are no longer available. Since our condo association will not ...

FHA Appraisal Appeals: A Reader Question

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A reader asks, “A buyer for my property secured an FHA approval and had a FHA appraisal performed. The appraisal was well below the contract price, so much so that it was below the County’s tax assessed value. Better comps ...

FHA Appraisals: A Reader Question

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A reader asks, “I had moved out of my home while renovations were done to my property prior to getting an FHA re-fi I had an FHA appraisal done immediately after the repairs were completed.”” “However now the lenders says ...

FHA Loan Interest Rate Trends

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Plunging oil prices—plus stock market reaction to those lower oil prices–are among the factors over the last five trading days that have affected FHA mortgage rates. FHA loan interest rates have fallen to year-long lows, best-execution. There are other factors that can ...

HUD Announces Changes To Making Home Affordable Program

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If you go to www.FHA.gov and look under the Press Releases section, you’ll find a recent update to the HUD Making Home Affordable program–an update that could mean thousands of dollars for some who take part in that HUD program. ...

FHA Loan Credit Issues: A Reader Question On Disputed Accounts

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A reader asks, “I would like to know how to get an FHA loan, I had a Bankruptcy discharged in Aug. 2010. This is my problem I got a credit card to improve my credit score. I was paying faithfully, ...

FHA Loan FICO Score Mininums and Late Payments: A Reader Question

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A reader asks, “We were living in Florida when the housing market crashed. I was in school and my husband was working. 2 mos after starting school my husband lost his job so we had no other option then to ...

FHA Loan Requirements For Credit Checks, Documentation

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FHA loan rules require your loan officer to perform credit and employment checks, examine the source of down payment funds, and verify your income. In order to accomplish this, the FHA requires the lender to get documentation from the source; ...

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