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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Happy Labor Day!

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Happy Labor Day! Banks and the markets that affect FHA mortgage rates are closed today. We pause from our usual posts about FHA home loans and answering reader questions to enjoy the holiday. Our regular post schedule resumes tomorrow, Tuesday ...

FHA Maximum Loan Amounts: Some Basics

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FHA loan applicants often want to know how much they can borrow with an FHA mortgage. There’s no set answer to that question since the FHA loan amount depends on the appraised value of the home and other factors. Borrowers ...

FHA Mortgage Rate News For Thursday August 28 2014

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FHA mortgage loan rates have been lower this week in small increments, and while many borrowers could see the difference in rates reflected in their closing costs rather than the actual rate number itself, the move lower does benefit the ...

FHA Loan Questions: Loan Changes

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A lengthy reader question came in recently, which we have edited for space  and brevity’s sake. The reader asks, “I am a first time homebuyer & the originator of my FHA loan was (lender name deleted). In qualifying, it was ...

FHA Eliminates Post-Payment Interest Charges

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The FHA has announced the elimination of certain interest payments previously owed beyond the date the FHA mortgage was paid in full. According to the press release HUDNo.14-104, titled, “FHA To Eliminate “Post Payment” Interest Charges, “borrowers who prepay their ...

FHA Streamline Refinance Loan Rules: A Reader Question

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A reader asks, “I currently have an FHA loan that I have had for 5 years and would like to streamline,but the maximum loan amount has changed since I got the loan and the new limit is less than what I owe. ...

FHA Loan Down Payment Rules: A Reader Question

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A reader asks, “Without having the 20% down on a property at the purchase of a home, can the loan be refinanced, to achieve the 20% in a short time period less than 3 years?” It’s not entirely clear what ...

FHA Mortgage Rate News For Friday August 22 2014

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If you are looking for an FHA home loan, chances are good you are paying attention to the rise and fall of FHA mortgage rates. There are many reason why these rates can change day to day or week to ...

Major FHA Loan Settlement: Billions of Dollars In Consumer Relief Pending

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The FHA/HUD official site has issued a press release announcing a major settlement in an FHA loan fraud case brought by the Obama administration. According to the press release titled, “Obama Administration Settlement With Bank of America Will Strengthen FHA ...

FHA Loan Rules For Verifiable Income: Retirement Pay and Social Security Benefits

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When applying for an FHA loan, many borrowers want to know if certain types of income will count towards their debt to income ratio. The debt to income ratio is calculated by the lender using income that qualifies according to ...

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