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

Tag Archives: FHA

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 ...

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 ...

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 ...

Mortgage Loan Interest Rate Trends: Higher

Mortgage Loan Rate Trends

Since our last report, mortgage loan interest rates have risen slightly but overall remain within the same range as we’ve been reporting on now for several weeks. Both Friday and Monday saw rates moving higher in spite of conditions that ...

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, ...

Pre-Foreclosure Sales and New FHA Loans

Many potential FHA borrowers want to know how long they must wait following pre-foreclosure sales in order to successfully apply for a new mortgage. There is a specified “seasoning period” (industry jargon for the amount of required waiting time following ...

April Is Fair Housing Month

April is Fair Housing Month, and a press release from the Department of Housing and Urban Development (HUD) reminds us that 2017 is the 49th anniversary of the Fair Housing Act. We report on these issues here in addition to ...

Mortgage Loan Interest Rate Trends: Sharply Lower

Mortgage Loan Rate Trends

Since our last report, mortgage loan interest rates have fallen sharply. Market watchers give at least some of the credit for this to bond market activity, and following a recent persistent upward trend any improvement is a welcome step in ...

Commission Income and FHA Loans: A Reader Question

A reader asked about the FHA loan rules governing commission income this week in our comments section: “My employer recently (1yr) switched the pay scale to a base/commission/bonus format. Basically we now get paid per load instead of hourly. Since ...