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

Category Archives: Reverse Mortgage or HECM

FHA Reverse Mortgages: An Appraisal Question

A reader asked us a question in the comments section recently about FHA reverse mortgages and the appraisal process for them. “We have a detached garage with a 500 square foot “mother-in-law unit” on top. Will this structure be included ...

FHA Refinance Loans: Cash-Out, Rehab

Are you thinking about refinancing into an FHA loan from an existing non-FHA mortgage? Do you already have an FHA mortgage and want to refinance? There are options under the FHA loan program for both, including the possibility of applying ...

FHA HECM Loans: A Reader Question

FHA refinance loans include the FHA HECM loan option for qualified borrowers. A reader asked us a question recently on HECM loans; “How does the Non-Borrowing spouse prove or show legal ownership of the property to the lender after the ...

FHA Refinancing: Your Options

There are many reasons to consider an FHA refinancing loan. Some borrowers want to refinance out of an adjustable rate mortgage, others want to refinance out of a more expensive conventional mortgage, while others still want to take out some ...

Reverse Mortgage Issues: A Reader Question

A reader asks, “I am an inheritor of a reverse mortgage home. I have declared to the bank that I am paying off the loan in cash at 95% of the appraised value. The appraisal came in to my benefit.” ...

FHA Announces 2017 HECM Limits

The FHA official site has been updated recently to include 2017 loan limits for Home Equity Conversion Mortgages, also known as FHA HECM loans or FHA reverse mortgages. According to the press release at www.FHA.gov, “The Federal Housing Administrations (FHA) ...

FHA Reverse Mortgage Counseling

We addressed FHA reverse mortgages in a recent blog post, discussing several aspects of these home equity conversion mortgages. One thing that makes the FHA reverse mortgage program unique from FHA refinance loan options is that these types of loans ...

FHA Refinance Loans and HECM Reverse Mortgages

There are two types of FHA loans borrowers should know about when considering their refinance loan options. One is a traditional cash-out or no cash out refinance loan, the other is a reverse mortgage also known as an FHA HECM ...

Appraisal Rules For FHA Mortgages, Reverse Mortgages

FHA home loans require an appraisal, which is designed to determine the fair market value of the home, but also to insure the property meets FHA minimum standards. While the appraisal must not be considered an inspection (and passing the ...

FHA Refinance Loans: 10 Things To Know

If you are considering your options with an FHA refinance loan, here are ten tips to help you decide which type of refinancing is right for you. FHA Refinancing For Non-FHA Loans Borrowers do not have to be in an ...