Articles and news about FHA loans and HUD requirements. FHA loans are great for first-time homebuyers.

Articles and news about FHA loans and HUD requirements.

FHA Mortgage Loan Terms: Understanding Equity

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Let’s Talk About Home Equity from FHA.com on Vimeo. Equity is an important term to understand when you’re applying for any kind of mortgage loan, but for some loans equity is a larger factor than others. For example, when you ...

FHA Revises HECM Policy To Include Third Party Tax Verification Fee

2015-20

FHA loan rules for Home Equity Conversion Mortgages (HECM) have been modified by the agency to include approval of third party fees for property tax verification. According to FHA Mortgagee Letter 2016-10, the third party fees will be added to ...

More About FHA Loans For Home With PACE Assessments

2015-14

Recently we wrote a blog post about FHA plans to allow qualifying homes with PACE assessments to be purchased with FHA mortgages. The FHA announced this recently in order to help promote energy efficiency (PACE stands for Property Assessed Clean ...

Using a Co-Signer With an FHA Mortgage Loan

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When Do You Need a Co-signer? from FHA.com on Vimeo. The video above gives some basic information about what a co-signer is, but there are some other details you should know about using a co-signer. FHA loan rules governing cosigners ...

FHA Loans For Properties With PACE Assessments

2015-15

The FHA has announced it will insure mortgages on qualifying homes that have PACE assessments. According to a press release on the FHA/HUD official site, the move was initiated to help encourage the use of clean energy. “In order to ...

FHA Loan Appraisal Rule Questions: A New Appraisal For A New Lender?

2015-33

A reader asks, “I am selling a home that has a septic system that does not meet local requirements but has been grandfathered. The septic system has been inspected and is in good working condition. The appraiser said that because ...

Mortgage Rate Trends: Unchanged To Slightly Higher

2015-02

Mortgage loan interest rates were unchanged to slightly higher on Monday, though some borrowers will have noticed Monday’s changes in the form of slightly higher closing costs rather than an actual change in mortgage rates. We’re watching an overall upward ...

FHA Loan Rules On Seller Contributions Part Two

2015-27

In our last blog post, we answered a reader question about whether or not it’s permitted for the seller to contribute to the buyer’s closing costs and down payment. FHA loan rules do not permit anyone with a financial stake ...

FHA Loan Questions: Down Payment Assistance From The Seller?

2015-14

A reader asks, “Can the buyer use seller assist for the down payment and closing costs? If yes, what is the limit?” This is a more common question than it may seem at first-sellers can and often do contribute toward ...

Mortgage Rate Trends: Rising

2015-02

Mortgage loan rates have been on the rise most of the week; three out of four business days were marked by higher numbers or closing costs and with Brexit, overseas terrorism headlines, and domestic scheduled economic data releases, it’s possible ...