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Category: FHA

FHA Mortgages Suit Many, but There Are Downsides

Some in the mortgage industry are concerned that clients who obtain FHA loans find themselves facing more baggage now than in the past. Certainly, FHA is a good option for those buyers who either can’t come up with the minimum 5 percent down payment that Fannie Mae and Freddie Mac now require, or have credit challenges. […]

A Rehab Mortgage Can Be an All Around Win-Win

With warmer weather on the way and lots of properties still available for purchase (especially those in need of some TLC), the FHA 203K rehab mortgage is something you may want to consider. The 203K program will allow you to purchase a home and borrow the money to make improvements to it in one mortgage. […]

FHA's Approved Condo List

If you are interested in buying a condo and are planning to use Federal Housing Administration (FHA) financing, make sure you check out the FHA’s Approved Condo List. It will only lend money for condominium projects that are on that list. It’s more challenging in general to get financing for condos, because associations play such […]

FHA Back to Work Program

FHA Back to Work Program The Federal Housing Administration (FHA) recently announced its “Back to Work” program, which is giving individuals who suffered a long period of hardship during the recent housing crisis a second chance to prove they can carry a mortgage and own a home. The program will waive many of the waiting […]

Deciding Between FHA & Conventional Financing

There are basically two main routes that are commonly used these days when looking for financing for home purchases:  FHA and Conventional.  Here is a brief primer of how both work. FHA Financing FHA is getting more popular these days as credit guidelines become more stringent and cash-strapped borrowers look for lower down payments.  Compared to […]

FHA Mortgage Guidelines

What is an FHA Mortgage Loan? An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). An FHA loan is typically one of the easiest types of mortgage loans to qualify for because you can have less-than-perfect credit and the required down payment (3.5 percent) is lower than conventional […]

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