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

Monthly Archives: July 2010

FHA Investigates Possible Violations of Fair Housing Act

Recent reports in the media suggest some lenders may be illegally discriminating against FHA loan applicants for being pregnant or having short-term disabilities.

The New York Times reports one example of such possible; reporter Tara Siegel Bernard writes one applicant

Can I Get an FHA Loan for a Mobile Home?

The FHA has a program that lets FHA loan applicants get financing (or refinancing) for the purchase of mobile homes, a developed lot for the mobile home, or the combination of the home and the lot. Like other FHA loan products, the mobile home must be considered the primary residence of the FHA borrower.

FHA Loan Terms for Mobile Homes

The terms of an FHA loan for mobile homes include a fixed interest rate for the entire 20-year term of the loan in most cases. That term can be extended up to 25 years for a loan for a multi-section mobile home and lot. The maximum term is 15 years for a lot-only purchase.

FHA Loan Maximums for Mobile Homes, Mobile Home Lots, and Home-and-Lot Combinations

There are FHA loan maximums for mobile home loans, up to just under $93 thousand for a manufactured home and lot combination. That maximum is subject to revision in areas where costs run high

Why Should I Consider an FHA Loan?

There are plenty of reasons to consider an FHA loan. What are the advantages to applying for an FHA home loan instead of a conventional mortgage? Why apply with the FHA?

FHA insured home loans can be used for a variety of properties and purposes. Those who apply and qualify for FHA loans can purchase a home for up to four families, a condo or even a