FHA Discussion

Read the latest on FHA mortgage information

FHA Commercial Loan for Mixed Use Properties

FHA Commercial Loan for Mixed Use Properties You can buy a mixed use or commercial property with an FHA loan if at least 51% of the property is being used for residential housing. An FHA commercial loan is for the purchase of a primary residence that also has a legal commercial or mixed use space …

First Time Home Buyer Closing Costs

First Time Home Buyer Closing Cost Guide First time home buyers should prepare themselves for the costs associated with buying a home. There are closing costs and some costs related to owning a home that you will need to be ready for after closing. First time home buyer closing costs can be 2%-4% of the …

FHA Loan Contingency Guidelines

FHA Loan Contingency If you are buying your home using FHA financing, there will be an FHA loan contingency included in your sales contract where the contract can be cancelled without penalty to the buyer. Below we will discuss the FHA loan contingency scenarios for appraisal and repairs. FHA Loan Contingency for Appraisal According to …

First Time Home Buyer Construction Loan Options

First Time Home Buyer Construction Loan Options Many first time home buyers are looking to avoid buying an older home with some repair issues and are now focusing on building their dream home from the ground up. A first time home buyer construction loan is perfect for those who can meet the requirements and have …

What is an FHA 203k Consultant? – Role and Fees

What is an FHA 203k Consultant? An FHA 203k consultant will help home buyers by guiding them through the entire process from the application, to dealing with the contractors, and even the inspections while the work is being completed. What Does an FHA 203k Consultant Do? An FHA 203k consultant is someone who helps home …

First Time Home Buyer 401k Withdrawal Options

First Time Home Buyer 401k Withdrawal First time home buyers often struggle with finding the funds needed to purchase a home. You may be able to withdraw funds from your 401k to help purchase your home.   Can you withdraw Money from Your 401k to Buy a House? You can withdraw money from your 401k to …

FHA Loan Down Payment Requirement – Acceptable Sources

FHA Loan Down Payment Requirement FHA loans are designed to help home buyers who may have low credit scores, limited income, and very little cash to close. One of the benefits of purchasing a home with an FHA loan is the very low down payment requirement.  The FHA loan down payment requirement is 3.5% for …

Can a Seller Refuse an FHA Loan

Can a Seller Refuse an FHA Loan?   There are home buyers who are shopping for their dream home, but find some sellers are not accepting offers if they are using FHA insured financing to make the purchase. A seller is legally permitted to refuse offers from buyers who are planning to use an FHA …

FHA Closing Cost Assistance for 2022

FHA Closing Cost Assistance and Grants Home buyers looking to purchase a home with an FHA insured mortgage may have the down payment, but often need assistance with the closing costs. There are multiple ways to find help coming up with the funds needed to cover closing costs whether it is through assistance programs or …

FHA Foreclosure Waiting Period Guidelines

FHA Foreclosure Waiting Period If you have a recent foreclosure in your recent past, you can still buy a home with a mortgage in the future. However, lending guidelines will require you to wait until the seasoning period has ended and the waiting period is different for FHA loans. The FHA foreclosure waiting period is …
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