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.

Commission Income and FHA Loans: A Reader Question

FHA loan down payment

How does commission income count when applying for an FHA mortgage? A reader asked us recently, “I was denied a mortgage because of a commissioned salary, even though Im full time and am guaranteed 15.75/hr. Interestingly, everything was all ready ...

FHA Appraisal Timing: A Reader Question

A reader asks us a question about FHA appraisal rules this week in our comments section. “Buyers want my house but dont want to process the sale until the end of April. It is now Feb. 19th 2017. I dont ...

Happy Presidents Day 2017!

Happy Presidents Day! Markets and banks are closed in observance of the holiday, and we pause our usual posts on FHA loan issues and reader questions about FHA mortgages as well. Our regular posting schedule returns on Tuesday. Have a ...

Gaps In Employment, Reductions of Income: FHA Loan Rules

FHA loan rules in HUD 4000.1 for single family home loans and refinance loans include instructions for the lender on how to verify a borrower’s income and employment. There are several reasons why this verification must be made, but one ...

Credit Score Rules For FHA Mortgages

mortgage loan and business debt

There’s a common reader question about credit score rules for FHA mortgage loans that we get from time to time that goes something like this: “Is it possible to have a low credit score (500-600) and still get an FHA ...

Mortgage Rates: Five Days Of Moving Higher

Mortgage Loan Rate Trends

Mortgage rates have been moving steadily higher for the last five business days; the most recent move higher on Wednesday was motivated in part by investor reaction to stronger economic data including a stronger Retail Sales report and better news ...

Switching Lenders: The FHA Loan Rules in 2017

Home loans sometimes feature complications. A borrower may decide to cancel the transaction altogether, have a change of mind on certain details of the mortgage, or in some cases switching lenders may be required. What are the FHA loan rules ...

Mortgage Rates: Four Days Of Moving Higher

Mortgage Loan Rate Trends

In the short-term, mortgage rates have been on an upward swing. Tuesday’s rate activity had early higher moves, but with recovering later in the day, resulting in a continuation of the recent range of conventional rates but with more lenders ...

FHA Loans And Work Permits: A Reader Question

Are work permits required for FHA loans when the applicant is a legal permanent resident alien or non-permanent resident alien? A reader asks, “So if a person had a work permit but never renewed it, but has been doing taxes ...

HUD Announces Relief For Louisiana Tornado Victims

Federal relief is available for those affected by tornadoes in Louisiana. On Monday, February 13th 2017, the U.S. Department of Housing and Urban Development (HUD) announced it will “speed federal disaster assistance to the State of Louisiana and provide support ...