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 does not have income requirements but there …

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 …

Top 10 FHA Streamline Refinance Benefits An FHA streamline refinance has many benefits and is an excellent way to refinance your home with less documentation and lower closing costs. If you currently have an FHA loan, it may be worth looking into an FHA streamline refinance. Top 10 FHA Streamline Refinance Benefits These are some …

What is an FHA Loan FHA loans are mortgages for primary residences that are offered by approved lenders and are insured by the FHA (Federal Housing Administration). The Federal Housing Administration does not issue the loan. They set the loan guidelines that the lenders who offer FHA loans must follow. The FHA also insures the …

FHA Announces Increases in the 2022 FHA Loan Limits On December 1, 2021 the FHA announced increases to the national “floor” loan limits from $356,362 in 2021, to $420,680 in 2022. The National Housing Act requires the FHA to review average national year-to-date home sales for the current year to determine what the new limits …

FHA 100 Mile Rule Exceptions FHA guidelines require FHA loans to be used for primary residences only and borrowers may not have more than one FHA loan at the same time. Meanwhile, there are many homeowners who have outgrown their current home and wish to purchase a new home without selling their current home. In …