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

Vimeo Channel YouTube Channel

Articles Published in: March 2019

FHA mortgages

March 4, 2019

FHA Home Loan Approval By The Numbers

By Bruce Reichstein

Do you know what it takes to get a home loan approved? When you apply for an FHA mortgage loan or an FHA refinance loan, you should know about the following numbers and how they work together to get you into your first home or an upgrade to a newer property as a repeat home buyer. FHA Home Loan Approval Numbers: One One is the number of people obligated on the loan who are required to live in the real estate secured by the FHA mortgage as their full-time residence. At least one borrower obligated on the mortgage must live in the home as their primary home. FHA Mortgage Loan Approval Numbers: Two Two is the number of years of employment the lender is required to verify for all potential | more...

 
FHA Loans

March 1, 2019

FHA Home Loan Facts For First-Time Borrowers

By Bruce Reichstein

First-time home buyers should know about several things going into the home loan process, including their options when it’s time to refinance or consider a new home loan. Are you fully informed about your home loan options with an FHA mortgage? FHA Home Loans For First-Time Buyers Allow Non-Occupying Co-Borrowers A non-occupying co-borrower is someone obligated on the mortgage but who does not intend to live in the property full time. A co-borrower can help you to qualify for the mortgage by paying part of the closing costs and the down payment, but all borrowers applying for the mortgage loan must financially qualify. That means that the credit liabilities of the borrower with the weakest credit cannot be offset by the strengths of the co-borrower. Everyone will be considered on | more...