Timely news, information and advice concentrating on FHA, VA and USDA residential mortgage lending.

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Articles Published in: November 2017

FHA loans

November 1, 2017

What Kind Of House Can I Buy With An FHA Mortgage?

By Joe Wallace

What kind of house can I buy with an FHA loan? Many first time home buyers want to know if FHA mortgages can be used to buy certain kinds of property including condos, duplexes, mobile homes, etc. FHA mortgage loans are flexible enough to purchase many different types of houses depending on the housing market, the lender, and local market standards. Not all FHA lenders will offer all the FHA loan types available to them, so it’s good to ask early if the property type you are interested in is an option. FHA Loans For Typical Suburban Homes The most obvious type of home loan is definitely available for purchase with an FHA mortgage. A suburban home can be existing construction, new construction, or built to suit. FHA loan requirements | more...

 
Five FHA Home Loan Questions To Ask Your Lender

November 1, 2017

What Do I Need To Get FHA Loan Approval?

By Bruce Reichstein

What do I need to get FHA loan approval? There are several areas that will factor into the lender’s decision to approve the loan, including credit history, time spent working overall, and the dependability of your income. In addition to your credit, employment, and other issues, the property itself must meet FHA loan standards. As you can tell, the issue of FHA loan approval is one that requires some planning and research for you as well as the lender. FHA Loan Approval Is Based On Financial Qualifications Where the borrower herself is concerned, getting an FHA loan approval hinges on three basic things. One is your current ability to afford the loan. Another is your past credit activity and your record as a good credit risk. And the third area | more...