FHA Loan Information Archive

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 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 …

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 …

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 2023 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 up to a maximum of 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 …