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

Tag Archives: FHA and HUD

Fair Housing Month And HUD

Fair Housing Month ends this weekend. This month-long campaign to raise awareness of Fair Housing laws is an important one, which includes measures taken by the Department of Housing and Urban Development to help house hunters and apartment seekers alike ...

An FHA Loan For A Flipped Home?

Is a flipped home eligible for an FHA mortgage? That’s what one reader wanted to know this week. “What are the rules for buying properties that have been ‘flipped’ meaning an investor/homeowner has purchased the property did some updates and ...

HUD Announcement On California Fair Housing Case

The Department of Housing and Urban Development announced an agreement in a fair housing case involving a group of mortgage lenders operating in California. According to a press release on HUD.gov, ” The U.S. Department of Housing and Urban Development ...

Multiple FHA Loans? The Rules

Based on some of our reader questions lately, there seems to be some confusion over the rules for FHA loans where the borrower is interested in applying for an additional FHA mortgage. What are the rules in HUD 4000.1 on ...

FHA Loans And The 100 Mile Rule: A Reader Question

A reader asked us a question about FHA loans and “the 100 mile rule”. “I am currently looking to purchase a home with FHA financing 5 miles from my current home in California. The current home I own is secured ...

April Is National Fair Housing Month

National Fair Housing Month is a bit more than half over, but it’s an important time to raise awareness of Fair Housing laws, how they affect mortgage loan applicants, and how such laws affect renters as well as borrowers. Do ...

FICO Scores And FHA Loan Approval

How do FICO scores affect your FHA home loan application? A reader got in touch this week to ask a question in this area: “Hello, my credit score is between high 500s, low600s. I make $8,000 a month. My mother ...

FHA Loan Limits: Low-Cost Areas, High-Cost Areas

FHA loan limits can be puzzling to those unfamiliar with how the program works. FHA loans are calculated based upon the appraised value of the property or the sale price, whichever is lower. There are other factors that will help ...

Maximum Loan Amounts For FHA Loans

What are the FHA loan rules for maximum loan amounts? The rules for loan amounts are found in the FHA single family home loan rule book, HUD 4000.1 has answers, starting with this from page 155: “A Mortgage that is ...

FHA Loan Rules: Borrowers, Co-Borrowers, Co-Signers

Do you know what the FHA loan rules are for borrowers, co-borrowers, and/or co-signers? What are the requirements for each and how is your lender required to proceed with each? The FHA home loan rule book for single family mortgages, ...