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

Tag Archives: FHA loan rules

FHA Loans After A Deed-In-Lieu

How long does a borrower have to wait to apply for a new FHA mortgage following a deed-in-lieu? A reader asks us a question along those lines this week: “We went Chapter 13 about 8 years ago and paid the ...

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 Home Loans and Zoning: A Reader Question

How are FHA home loans affected by zoning laws? A reader asked a question about this in our comments section recently: “I have a family who wants to purchase a home on commercial zoned property. The County has given a ...

FHA Loan Rules For Employment: A Reader Question

FHA loan rules require the lender to verify a borrower’s employment-how long the borrower has been employed, the nature and duration of the job, the pay, and other factors that may be required by lender standards or state law. Sometimes ...

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 ...

FHA Loans and Septic Distances

What are the FHA loan guidelines for septic tank issues? A reader asked us a question in this area in the comments section recently: “I am in contract to buy a home with a FHA 203 rehab loan. Today I ...

FHA Mortgage Questions And Answers

There are many questions about FHA loans-those who are new to the process want to know some very basic, but very important things including how down payments are calculated, who is eligible for an FHA loan, and whether the borrower ...

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 ...

FHA Loan FICO Score Rules

What are the FHA loan program’s FICO score requirements? That’s a common question, and a good one to ask as there are several things to keep in mind about how the FHA and participating lenders will view your credit scores. ...

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 ...