fha

A condo association has many jobs aside from overseeing the development and caring for the common areas. As condo units turn over and people want to purchase them, they need access to various forms of financing. Most government-backed financing options require approval from the appropriate entity in order for the financing to go through. This includes FHA approval. The FHA must approve your development for FHA ...

FHA loans are one of the more popular options for mortgage borrowers, some of the benefits of using an FHA loan is it offers lower down payments and they have more lenient lending standards. The Federal Housing Administration, also known as FHA, insures mortgage loans so borrowers who utilize this program are required to pay for mortgage insurance which protects the lender if the loan were to default. WHY CHOOS...

If you take out an FHA loan, you’ll pay mortgage insurance for the life of the loan. The mortgage insurance protects your lender should you default on the loan. It’s in exchange for the low down payment requirements and flexible underwriting requirements the FHA offers. Get Matched with a Lender, Click Here. Just how much does the FHA MIP affect your mortgage payment? We take a look below. UPFRONT MORTGAGE ...

If you can’t come up with a large down payment for a home, you may consider an FHA loan. Because you can qualify for a loan with just 3.5% down, it may be easier to buy the home of your dreams. The FHA makes it easier for first-time homebuyers as well as repeat buyers to buy a home. Looking for Current Mortgage Interest Rates? Click Here. Below we help you understand the down payment rules and how they apply ...

The FHA offers many benefits which first-time home buyer can take advantage of. One of these benefits is the ability to purchase a new home with a very low down payment and with less than perfect credit score. Even borrowers who have a significantly lower DTI ratio can take advantage of an FHA home loan. Borrowers can also enjoy more lenient guidelines and requirements when they choose to fund their home loan...

A study published in July revealed that default rates on reverse mortgages insured by the Federal Housing Administration could be reduced by as much as 50% in light of the agency’s recent rules changes. This development comes as the FHA wishes to codify those changes and more in a proposed rule “intended to make certain FHA-insured reverse mortgages remain a viable and sustainable resource for senior home...

U.S. Department of Housing and Urban Development (HUD) just recently announced enhancements to its Distressed Asset Stabilization Program (DASP). One of the main objectives of this program is to help families remain in their homes and keep their properties from foreclosure. The updated program offers greater opportunity for non-government agencies as well as local and other government entities to encourag...

One of the best mortgage programs you can use as an alternative to a conventional home loan is an FHA loan. The FHA loan makes homeownership available to potential borrowers who: a) have no money to pay for the conventional 20 percent down payment or at the least the required minimum down payment amount (possibly 5 to 10 percent of the property’s purchase price)b) want to refinance to a new mortgage with lowe...

FHA mortgages always include mortgage insurance. It’s not just until you owe less than 80% of the home’s value either. You pay the mortgage insurance for the life of the loan. While that’s not the best news you want to hear, the good news is that the insurance does decrease over time. Compare Offers from Several Mortgage Lenders. Keep reading to learn how mortgage insurance affects your payment to...