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

Tag Archives: FHA loan questions

FHA Loans And Work Permits: A Reader Question

Are work permits required for FHA loans when the applicant is a legal permanent resident alien or non-permanent resident alien? A reader asks, “So if a person had a work permit but never renewed it, but has been doing taxes ...

Non-Occupying Co-Borrowers: A Reader Question

FHA loan rules state that in cases where there are non-occupying co-borrowers, different down payment requirements may apply. According to FHA loan rules, “A Non-Occupying Borrower Transaction refers to a transaction involving two or more Borrowers in which one or ...

Appraisal Questions: Bricks

A reader asked a question about the FHA appraisal process in our comments section recently; “I am currently selling my house. The buyer is getting a FHA loan.” “The appraiser asked us to repair any broken brick on the outside ...

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 ...

FHA Loan Fact and Fiction

An FHA loan comes with a variety of options including the types of property you can buy (suburban home, townhome, condo unit, manufactured home, etc.) and the types of mortgage you can apply for (15-year term, 30-year term, fixed rate, ...

Deferred Obligations and FHA Loans

A reader asks, “How do you calculate monthly payments for estimated payment to begin when schooling is complete?” With student loans, there are two types of payments, one of which may apply in this case. Ongoing payments and deferred payments ...

FHA Mortgages: Five Simple Things To Know

If you are considering an FHA home loan, there are a few simple basics to keep in mind about your loan application that will help you in both the planning stages and the application stage of the loan. Did you ...

FHA Loan Basics: A Reader Question

A reader asks, “I really don’t understand why i have to pay PMI and MIP. I had credit problems a bankruptcy in 2013 , it was recorded and its been almost 4 years and my score is 709 that the ...

FHA Loans and Credit Report Issues

A reader asks us a question about FHA loans and credit issues this week: “I have applied for a mortgage and I have a judgement on my credit that is part of a class action law suit. Does this judgement ...

FHA Appraisals: A Reader Question

“I am getting ready to purchase a home. It has been under contract for 6 weeks. 1.5 weeks out, ‘…there is concern that there may be moisture. Please have a specialist determine if there is no moisture or mold present’. ...