FHA

How Do I Know I Need an FHA 203k loan?

How Do I Know I Need an FHA 203k loan?

By.Michele Lerner   QUESTION: I am a first-time home buyer preapproved for an FHA loan. I’m looking at a short-sale property, and upon the initial viewing, my REALTOR@ suggested that the roof may or may not need work and I would need to be preapproved for a 203k loan before the process could continue. How do I […]

Is an FHA Loan Right for You?

Is an FHA Loan Right for You?

AUTHOR:RICK GRANT   Since the Great Depression of the 1930s, the U.S. government’s Federal Housing Administration (FHA) has provided a form of mortgage insurance to back loans made to Americans who would not otherwise qualify for a home loan. Over the years, FHA-insured loans have allowed consumers all across the country to become homeowners. The […]

7 crucial facts about FHA loans

7 crucial facts about FHA loans

By Marcie Geffner • Bankrate.com   What is an FHA loan? In the wake of the housing bubble’s collapse, FHA loans have taken on renewed importance for today’s mortgage borrowers. Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay […]

Is an FHA Loan Worth it When Buying a House?

Is an FHA Loan Worth it When Buying a House?

By Polyana da Costa   The most popular type of mortgage for buyers with low down payments keeps getting pricier and less appealing as more buyers question whether it’s still worth getting an FHA loan. Compare Mortgage Rates in Your Area The mortgage insurance premium on loans backed by the Federal Housing Administration has nearly tripled since 2008. […]

FHA Loans: Credit Scores Loom Large as New Rules Take Effect

FHA Loans: Credit Scores Loom Large as New Rules Take Effect

  New requirements for Federal Housing Administration-approved mortgages go into effect today, presenting potential roadblocks for homebuyers with collections or judgments in their credit histories. While lenders have recently been able to take significant economic events into account in processing loan applications, today’s changes are a step in the opposite direction for loan accessibility. The […]

4 Things to Know Before Applying for FHA Loan

4 Things to Know Before Applying for FHA Loan

A Federal Housing Administration loan, or FHA, is a great loan to have. The FHA provides insurance-backed mortgage loans through approved FHA-lenders. This loan protects lenders from losses that may arise from a defaulted loan. This loan only works for single/multifamily properties within the U.S. and it’s territories. This makes lending easier and borrowers can […]

The 6 Biggest Myths Of FHA Mortgages, And How To Get Approved For Low Rates

The 6 Biggest Myths Of FHA Mortgages, And How To Get Approved For Low Rates

  The FHA mortgage is one of the misunderstood products in the market. For years, the FHA advertised its products as loans for people “on the margins”. For the last 10 years, however, that has not been the case. FHA loans are among the most flexible and rewarding products available to today’s U.S. home buyers. […]

FHA mortgage premium to rise

Kathleen Pender    Borrowers who want to get a mortgage insured by the Federal Housing Administration should act quickly to avoid changes the agency is making to shore up its faltering insurance fund. The U.S. Department of Housing and Administration announced the changes on Wednesday but didn’t announce the effective dates until Thursday. Here’s the timing: FHA […]

FHA

FHA loans FHA loans have been helping people become homeowners since 1934. FHA Loans are backed by the Federal Housing Administration (Also known as FHA). FHA insures the loan so your mortgage lender can offer more risky loan products. For example: FHA loans typically have a lower down-payment and better loan rates for borrowers with […]

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