FHA Discussion

Read the latest on FHA mortgage information

FHA Loan for a Duplex Requirements

FHA Loan for a Duplex One of the many benefits of an FHA loan is having the ability to purchase a duplex. You can live in one unit while renting out the other to help cover the mortgage payment. There are some very specific requirements and guidelines for FHA loans when purchasing or refinancing a …

FHA Compensating Factors for 2023

Borrowers who do not receive an automated approval from the lender may need compensating factors to help qualify for an FHA loan. FHA compensating factors help borrowers to qualify when the loan application may not fully meet the standard approval requirements. We will take you through the various types of FHA compensating factors that can …

13 Benefits of an FHA Loan

Benefits of an FHA Loan FHA loans are extremely popular with first time home buyers, but also with people who may have difficulty qualifying for a conventional loan. These are some of the amazing benefits of an FHA loan and why you may want to consider this mortgage program for the purchase of a home …

FHA Rent to Own Guidelines

FHA Rent to Own Options There are many future home buyers who are considering rent to own situation with their landlord but would love the option to purchase the home some time in the future. FHA guidelines permit rent to own contracts when approving mortgages for home buyers who have been renting the home they …

FHA Loans for Seniors in 2023

FHA Loans for Seniors Senior citizens can qualify for an FHA loan if their retirement income is sufficient to qualify for the mortgage. Many people believe that seniors cannot qualify for an FHA loan due to the employment requirements. However, no job is needed for seniors because their retirement income is a valid substitute for …

FHA Seasoning Requirements

FHA Seasoning Requirements There are specific FHA seasoning requirements which may limit your ability to refinance or require you to wait before moving forward with an FHA refinance. What is Loan Seasoning? Loan seasoning is a requirement set by loan guidelines or lenders whereby a homeowner must wait a specified amount of time after the …

Can You Get an FHA Loan Twice

Can You Get an FHA Loan Twice? FHA loans are for individuals who have a small down payment and potentially low credit scores who wish to purchase or refinance a primary residence. FHA loans are not just for first time home buyers and there are no restrictions which will prevent you from getting an FHA …

Pennsylvania First Time Home Buyer Programs and Grants

Pennsylvania First Time Home Buyer Programs and Grants Pennsylvania is a wonderful state to purchase a home and there are first time home buyer assistance programs and grants available for those who can qualify for one of the programs. We are going to walk you through the various Pennsylvania first time home buyer programs. First …

FHA 203(b) Loan Information and Definition

FHA 203b Loan Information There are various type of FHA loans available which can help with different purposes. The FHA 203(b) loan is the official name of the standard FHA loan that is used to purchase or refinance a home. This should not be confused with the FHA 203k rehab loan which is used to …

FHA Manual Underwriting Guidelines for 2023

FHA Manual Underwriting Guidelines If you are applying for an FHA loan, there is a chance that your application may need to be manually underwritten. FHA manual underwriting guidelines may require additional documentation or compensating factors to secure an approval. If you believe you need to have manual underwriting for your FHA loan, the good …