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

Category Archives: Debt Ratios

Late or Missed Payments and FHA Loan Applications

mortgage loan and business debt

If you look at recent headlines, it’s easy to see indications that the U.S. economy is trying to improve. The Fed is discussing interest rate hikes after a long period of measures to shore up the economy after the financial ...

Mortgage Markets and FHA Loans

At the beginning of 2017, Forbes.com published a housing outlook for 2017 which included predictions from experts about what could happen this year. Three months into the new year, how accurate were some of the highlights of this piece? How ...

Back Taxes And FHA Home Loans

Are unpaid back taxes a liability when it comes time to applying for an FHA mortgage or refinance loan? A reader asks, “I am currently paying back taxes on a payment plan but have filed all appropriate tax returns. Is ...

Alimony and Child Support: FHA Loan Rules

FHA loan rules permit alimony and child support to be counted as verifiable income for borrowers who receive it. Like all other sources of income, the rules in HUD 4000.1 state the lender is responsible for verifying the income through ...

Are You Ready For An FHA Mortgage Application?

mortgage loan and business debt

If you are thinking about filling out an FHA mortgage application, there are a few questions to ask yourself before you do-if you’re ready to apply for an FHA loan, you’ll have the answers ready. How Much Down Payment Money ...

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 ...

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 ...

FHA Loan Rules For Part-Time Income

FHA loan rules require the lender to verify both employment and income. The lender must determine that a borrower’s income is both stable, and likely to continue for the purpose of making the mortgage loan payment. But what kinds of ...

Collection Accounts and FHA Loans

We’ve had some recent questions about home loans and collection accounts lately; in light of those questions it seemed like a good time to review the FHA loan rules on collection accounts as found in HUD 4000.1. The FHA loan ...

Second FHA Loans?

Is it possible for borrowers to apply for second FHA loans, resulting in paying on two mortgages at once? A reader asks, “Several months ago I relocated to another state over 400 miles away. To help offset costs I rented ...