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 2024 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…
FHA Loans for Teachers Teachers often ask of there are special programs for them to help qualify for a mortgage. FHA loans for teachers are likely the best option when purchasing a home as an educator with a small down payment and sometimes lower credit scores. FHA Loan Benefits for Teachers Teachers are not much…
FHA Loan for Investment Properties One of the benefits of an FHA loan is the very low down payment. Meanwhile, investment loans typically have a much higher down payment requirement. Therefore, it would be helpful to many first time investors if you could use an FHA loan for investment properties. FHA guidelines do not permit…
FHA Loan Without Tax Returns There are many reasons why home buyers are unable to produce tax returns when applying for a mortgage. Sometimes there are delays in filing your taxes or other legitimate reasons for not having two years of tax returns at the time of your mortgage application. It is possible to apply…
Top 20 First Time Home Buyer Questions Buying your first home can be very stressful and there are many things first time home buyers need to know and often ask during the process. We put together the top 20 first time home buyer questions and provided answers to them all. Hopefully the answers to some…
First Time Home Buyer Programs If you are a first time home buyer, there are various mortgage and assistance programs to help you purchase your first home. This holds true whether you have a small down payment or even low income. There are many first time home buyer programs purchase and finance your first home…
FHA Loan with a 620 Credit Score If you have a 620 credit score, there are mortgage options for you when trying to purchase or refinance a home. Some lenders have credit score minimums that are higher than 620 but do not let that discourage you. That simply means you have been speaking with the…
