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

Tag Archives: FHA loan requirements

FHA Loans For Mixed-Use Property

A reader got in touch with us in the comments section recently about purchasing mixed-use property with an FHA loan. “I’m looking to buy a 4-unit building that also has a store front. I reside in Indiana…I will be living ...

FHA Condo Loans: A Reader Question

A reader asks a question in our comments section this week about FHA condo loans. “My husbands ex-wife failed to pay their condo dues and they foreclosed on the property (Not the bank.. the Condo Association). The property was deeded ...

FHA Loan Rules: Occupancy, Second Homes

Occupancy is a key issue for FHA single family home loans. When you purchase a residence with an FHA mortgage, one of the requirements loan approval is conditional upon is that the borrower is expected to occupy the home as ...

Mortgage Rate Trends: Higher

Mortgage Loan Rate Trends

Mortgage loan interest rates went higher on Friday, undoing some of the gains made earlier in the week but keeping things within the range we’ve been looking at since the start of 2017. The move higher wasn’t enough to push ...

Mortgage Loan Interest Rate Trends: Two-Week Lows

Mortgage Loan Rate Trends

Mortgage rates took a move lower on Monday to levels many have been hoping to see more of in the last two weeks. Though the move does not dramatically change mortgage loan interest rate numbers, could we be on the ...

FHA Mortgage Facts You Should Know

FHA mortgage loans are a very good option for borrowers looking for a lower down payment and less stringent credit requirements than conventional mortgages. Did you know that FHA home loans do not feature a minimum or maximum income requirement? ...

Cash Back To The Borrower and FHA Loans

Do FHA loans permit cash back to the borrower? We get many reader questions in our comments section about this subject. Some want to know if they can borrow more than the cost of the home and use the excess ...

Income Documentation: A Reader Question

A reader got in touch with us this week to ask a question about the FHA requirements for income documentation: “I work on a commission basis where a large part of my income does not appear on my w2. Say ...

FHA Appraisal Update: A Reader Question

What’s the difference between an FHA appraisal update and ordering a second appraisal? That’s an important point when it comes to answering the reader question that came in via our comments section this week: “My question is this: Can a ...

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 ...