FHA Discussion

Read the latest on FHA mortgage information

FHA Seller Concessions – How it works

FHA Seller Concessions FHA guidelines allow for FHA seller concessions of up to 6% of the sales price of the home. The seller concessions can be used towards all closing costs, lender fees, points, appraisals and any other expenses except for the down payment. What is a Seller Concession? A seller concession is a credit …

FHA Loan Advantages and Disadvantages

FHA Loan Advantages and Disadvantages FHA loans are a great option for many home buyers. FHA loan advantages and disadvantages are clearly outlined below and may vary slightly depending upon the situation for each home buyer. The advantages of an FHA loan are numerous which is why they are extremely popular and account for over …

FHA First Time Home Buyer Loan Options

FHA First Time Home Buyer Loan Options FHA loans are extremely popular for first time home buyers due to the low down payment and flexible credit score requirements. Over 25% of new mortgages today are FHA loans and virtually every lender offers FHA loans. FHA first time home buyer loans are easy to qualify for …

2020 FHA Debt to Income Ratio Requirements

FHA debt to income ratio Debt to income ratio is the percentage used by lenders to determine a comfortable mortgage payment for a borrower’s income and debt levels and it is an important factor in determining the loan amount a borrower can qualify for. Standard FHA guidelines allow for a DTI of 43% and sometimes …

FHA vs VA Loan Comparison – Features and Benefits

FHA vs VA Loan Two of the best and most popular government loans available consumer today are the FHA and VA loan programs. Combined, they account for at least 30% of all residential mortgages originated each year in the United States. When comparing an FHA vs VA loan, you will find they both have unique …

FHA Termite Inspection Requirements and Guidelines

FHA Termite Inspection Requirements and Guidelines Termites can silently destroy a home in just a few short years. The damage they create will not only result in costly repairs, but it can also result in losing a real estate sale either as a buyer or a seller. If you are buying a home with FHA …

What are the FHA Income Limits?

Do FHA Loans Have Income Limits? FHA guidelines have many rules and qualifications which all must all be met if you plan to finance your home with an FHA insured loan. There are also loan limits and debt to income limits. One of the questions that borrowers ask at times is whether FHA loans have …

FHA Student Loan Guidelines

FHA Student Loan Guidelines One of the significant issues plaguing young adults is the amount of student debt they are incurring in recent years. According to Forbes, student debt is now the second highest consumer debt category ahead of credit cards and auto loans. There are 44 million students and graduates who owe an average …

5 Ways to Lower FHA Closing Costs

How to Lower FHA Closing Costs FHA loans are often the choice for home buyers who are low on cash to cover the down payment and closing costs. Although FHA loans are easier to get approved for and allow for a lower down payment, the closing costs can be more expensive than conventional mortgages. Read …

Getting an FHA Loan Without My Spouse – FHA Rules

Can I Get an FHA Loan Without My Spouse? There are many instances when a home buyer will want to purchase a home with his or her spouse, but leave the spouse off of the mortgage. The FHA guidelines have specific rules regarding non-applicant spouses and whether the spouse must be on the mortgage and/or …
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