FHA Loan for a Foreclosure Many first time home buyers are looking to purchase a foreclosed property because there may be an opportunity to buy the home at a reduced price. It is possible to use an FHA loan to purchase a foreclosure and also enjoy the benefits of a low down payment and competitive …

FHA Loan for a Fixer Upper There are many first time home buyers who would love to buy a home but the prices are just a bit out of reach. One way to get into a new home at a more reasonable price is to buy a fixer upper at below market value and then …

FHA Loan for a Condo Home buyers may consider using an FHA loan for a condo purchase if both the borrower and the condo meet the minimum requirements set by FHA guidelines. Can You Buy a Condo with an FHA Loan? FHA loans can be used to purchase a condo if the borrower and also …

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 …

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 …

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 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 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 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? 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 …