Maricopa County FHA Loan Limits for 2024

  Maricopa County FHA Loan Limits – A Guide to Homebuying in Arizona In Maricopa County, FHA loan limits represent the maximum amount that buyers can borrow under this federally backed program. These limits are adjusted annually based upon local housing costs and allow low-to-moderate income homebuyers an affordable pathway into homeownership. The 2024 FHA…

FHA Requirements on House Condition in 2024

Understanding FHA Requirements on House Condition: A Comprehensive Guide FHA’s house condition requirements demand more than just four walls and a roof. They focus on the property’s structural integrity, safety, and basic livability, setting a high bar that each home must clear. Meanwhile, it is not all about solid foundations or leak-free roofs. There is…

FHA Loan vs USDA Comparison

FHA Loan vs USDA FHA and USDA loans are government-backed loan options available to low to moderate-income homebuyers in the United States. While they have some similarities, there are key differences to consider. We will review the eligibility requirements, credit score and down payment requirements, the loan process, and the pros and cons of FHA…

FHA 203(h) Disaster Loan Guidelines for 2024

FHA 203(h) Disaster Loan: Rebuilding After Natural Disasters in the US FHA 203(h) disaster loans were created to assist those impacted by natural disasters to rebuild or replace damaged homes. It offers 100% financing for purchasing a new property or reconstructing the previous one. The property must have been severely damaged in a federally declared…

FHA Loan for Land in 2024

FHA Loan for Land FHA loans for land purchases provide financing options for buyers looking to purchase land and build a home. With a minimum down payment of 3.5%, FHA loans offer a streamlined process that combines land purchase and construction costs into one loan. We will explore the guidelines, credit score requirements, and benefits…

FHA Self Sufficiency Test Rules and Guidelines for 2024

FHA Self Sufficiency Test for Multi Family Properties The FHA self sufficiency test is used to determine financing the purchase of three to four-unit properties in the United States. It ensures that these properties are self-sufficient and generate enough rental income to cover all expenses, including mortgage payments. Meeting the test requires the net rental…