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

Tag Archives: FHA mortgage loans

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 ...

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? ...

FHA Loan Rules: Who Can Sell You The Home?

FHA requirements and FHA loan rules are designed to protect the lender in some cases, the borrower in others, and sometimes both at the same time. The FHA appraisal process, for example, is designed to insure that the home will ...

Mortgage Rate Trends: Going Lower Again

Mortgage Loan Rate Trends

Since our last report, the mortgage rate trend has swung back to improvements, taking back loses incurred last week and dropping hints that things could be settling into a new range. It’s still early days yet, but industry professionals are ...

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 Loan Applications In 2017

FHA loan down payment

Are you one of the many house hunters planning on filling out FHA loan applications for 2017? Are you ready to apply? Here are some tips to help you determine how close you might be to the application stage 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, ...

FHA Short Refi Loans in 2017?

HUD 4000.1 is the FHA single family home loan rule book. Whether you are purchasing a suburban home, a condo unit, or a mobile home with an FHA mortgage, the rules in HUD 4000.1 pertain to your FHA loan transaction. ...

FICO Scores And FHA Loans

Your credit report and FICO scores are very important factors when it comes to getting an FHA loan approved. Do you know what your FICO score is and how it affects your home loan? The U.S. government’s consumer watchdog agency, ...

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 ...