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An FHA Loan is a mortgage that’s insured by the federal government.  The government does not actually lend money but insures the mortgage in the event of default.  This allows lenders to loan money to buyers with some added insurance and protection and allows for lower qualification requirements vs. a conventional mortgage.  FHA loans have a variety of products including loans for single family homes, condominiums, 1-4 family multi-family units, manufactured homes with and without land, 203k rehab loan which allows the buyer to fix up the property and finance the repairs into their total loan amount and reverse mortgages called Home Equity Conversion Mortgages or HECM.  FHA loans were created to make home ownership for accessible to more people.

Found 4 entries about FHA Loan.

If you are thinking about purchasing a fixer-upper or if you are currently living in a home that needs work, you may be considering your options for financing the costs of the repairs. With the current state of the real estate market, many lenders have considerably tightened their underwriting requirements, making it more difficult to qualify for a conventional home improvement loan than before. Even if you find a lender who is willing to loan you the money needed to fix up your home, these loans are typically more expensive than most mortgage loans, and you will have two monthly payments to keep up with. You may be surprised to learn that the FHA has programs available to help homeowners and prospective homeowners make the necessary repairs to their

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Many people choose to take loans with the Federal Housing Administration (FHA) because they require less of a down-payment, which is often seen as a plus for new home buyers.  This type of loan is super flexible and lenient, but it isn't for everyone, and if you apply unaware of the pros and cons of this type of loan, you may be missing out on money saving opportunities in other places. 

An FHA loan, also known as a Section 203(b) loan, is a unique type of loan that is insured against default by the FHA, so in the event that the borrower cannot pay, the FHA will so that the lender does not have to write off the loan.  Because of this, lenders feel a sense of security and are more willing to agree to larger mortage loan sums. 

A the Good about FHA

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Interested in a home but it requires too many repairs to qualify for a standard FHA loan?  Consider a 203K Rehab loan

Most financed real estate purchases require an appraisal which is used to determine the fair market value of the home based on its condition and the recent sale price of comparable properties in the area. Because the lender may have the property returned to their portfolio in the event of a foreclosure, the property typically needs to be in decent condition in order for the loan to be approved. That’s why many “handyman special” properties are listed for sale as cash-only. There is, however, an alternative available to the knowledgeable buyer who wants to obtain financing for a home that needs major repairs.

The Federal Housing

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How to Buy a Home with a Small Down Payment: The Advantages of Using FHA Financing

It usually takes many years of penny pinching, sacrifice and firm self control to save enough money to buy a house. Many Americans end up using their life savings to pay for the costs associated with a home purchase. If you also have less than perfect credit, it may seem impossible to get set up with a mortgage. For people in this type of situation, a mortgage program known as FHA financing exits. These are mortgages that are insured by the Federal Housing Authority and therefore backed by the government. The program is designed for borrowers who may have a lower credit score and who may not have the funds to make a larger down payment typically required for conventional

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