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 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…
FHA Adjustable Rate Mortgage (ARM) Most home buyers opt for a 30 year fixed mortgage when purchasing a home. However, the FHA adjustable rate mortgage is becoming more popular for home buyers who are looking for a lower monthly payment. What is an FHA Adjustable Rate Mortgage? An FHA adjustable rate mortgage provides home buyers…
FHA Loans For Nurses Nurses are today’s unsung heroes who deserve to have the ability to buy an affordable home with reasonable costs and fees. An FHA loan may be the best option for many nurses who are looking to purchase a home. FHA loans For Nurses FHA Loans offer nurses the opportunity to purchase…
Refinance FHA to Conventional Many homeowners who have an FHA loan are looking to refinance. The question is whether they should refinance to another FHA loan or a conventional loan. Refinancing from an FHA to conventional loan may be right for you depending upon your credit scores, equity in the home, and interest rate. When…
FHA Loan Eligibility There are very specific FHA loan eligibility guidelines that borrowers should be aware of when purchasing or refinancing a home with an FHA loan. FHA loans may be the easiest mortgage to qualify for if you are eligible for the program. This guide will help you to determine whether you are eligible…
FHA Loan Income Requirements Many home buyers ask how much income is needed to purchase a home or to qualify for an FHA loan. The answer will vary based upon many factors including the price of the home, property taxes and other debt on your credit report FHA guidelines require all income to be consistent,…
Mortgage After Chapter 13 Bankruptcy Discharge Home buyers with a recent chapter 13 bankruptcy may have difficulty getting approved for a traditional mortgage. Most lenders will require you to wait up to two years depending upon the type of mortgage you need. You can apply for a mortgage to purchase a home during or after…
FHA Streamline Refinance Closing Costs When interest rates are low, refinancing to get a lower rate and payment is something many homeowners will strive for. FHA streamline refinances allow you to do that without an appraisal or income documentation. With most mortgage programs, you can include the closing costs in your new loan without having…
Is an FHA Streamline Refinance a Good Idea? Homeowners who currently have an FHA loan may consider refinancing with an FHA streamline refinance. There is much less paperwork required and no need for a costly appraisal. An FHA streamline refinance is a good idea for anyone who currently has an FHA loan and would benefit…
