FHA Loan Information Archive

Jumbo FHA Loans The Department of Housing and Urban Development oversees the FHA and they set the guidelines and loan limits for FHA loans. They determine what the qualifications are and also which loan amounts fit into the standard limits and what Jumbo sized loans are allowed. What are Jumbo FHA Loans? A Jumbo FHA …

FHA Loan Limits for 2021 The goal of the Federal Housing Administration is to make sure home buyers can finance a modest home with the benefits of an FHA loan. FHA loan limits exist because FHA loans were not intended to be used to finance high priced luxury homes. Use our FHA loan limits lookup …

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 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 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 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 …

FHA Approved Condos Condominiums are often the choice for first time home buyers, people looking for a second home or vacation spot, and even for individuals who are looking for low maintenance living. There are close to one million condominiums sold every year and although FHA loans are extremely popular and account for more than …

How to Get Pre Approved for an FHA Loan If you are thinking about buying a home, one of the first steps in the process is to have a discussion with a lender and to get pre-approved. In fact, most realtors will not spend the day looking at homes with you until you have a …

FHA vs Conventional Loan If you are thinking about a home loan, you may be wondering which type of loan to get and what type you may qualify for. Two of the most common type of home mortgage for borrows are the FHA and conventional loans. Your first step is understanding the differences between an …

FHA Down Payment Assistance Programs for 2021 One of the many benefits of an FHA loan is the low down payment requirement of 3.5%. On the surface it seems to be a very low down payment, there are many home buyers who still need help to come up with the 3.5% down payment. There are …