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FHA Loan Reader Questions: Credit Scores, Loan Limits and Mortgage Insurance
A reader asks, “The insurance for fha does it include in your morgtage or you have to pay that together with the downpayment? Do you know before you pick the house the amount you qualify for? How hard...
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FHA Loan Application Basics
FHA loans are much like conventional loans when it comes to applying and qualifying. Like a conventional loan, your lender will need your credit, income, and employment history data to make a...
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FHA Loan Application Requirements: A Reader Question
A reader asks, “My husband and I are trying to pay off debt and raise our credit scores to buy a home. Is there a program to help with a down payment? What are the steps needed to get approved for fha...
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FHA Mortgage Rate Trends
FHA mortgage loan interest rates have been holding at best execution levels of 3.25% for quite some time, and that’s despite ups and downs for 30-year fixed rate conventional mortgages. Late last week...
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FHA Loan Closing Costs
One common question asked about FHA home loans involves closing costs. Many FHA borrowers want to know how much to expect in the form of closing costs, but the simple answer to these question is, “it...
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FHA Loans For Mixed Use Properties: A Reader Question
Many of our reader questions posted in the comments section here come from loan applicants and home buyers, sometimes even sellers, all wanting to know more about certain aspects of the FHA loan...
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Participating FHA Lenders: Direct Endorsement Versus Conditional Approval...
There are two types of participating FHA lenders. One has “automatic authority” or “direct endoresement” (DE) authority to approve your FHA loan application in most cases, and the other has...
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FHA Loan Standards: Charge-Offs and Collections
We’ve gotten several questions in the comments section about certain credit issues related to charge-offs, collections and other forms of derogatory credit information. With those questions in mind it...
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