FHA Questions Archive

FHA Loan vs USDA Comparison

FHA Loan vs USDA FHA and USDA loans are government-backed loan options available to low to moderate-income homebuyers in the United States. While they have some similarities, there are key differences to consider. We will review the eligibility requirements, credit score and down payment requirements, the loan process, and the pros and cons of FHA …

Why Would a Home Not Qualify for an FHA Loan?

Why Would a Home Not Qualify for an FHA Loan? Most first time home buyers choose to finance their home with an FHA loan because of the low down payment requirement and flexible credit standards. However, the home must also qualify for an FHA loan. Not All Properties Qualify For FHA Loans FHA loans offer …

What is an FHA 203k Consultant? – Role and Fees

What is an FHA 203k Consultant? An FHA 203k consultant will help home buyers by guiding them through the entire process from the application, to dealing with the contractors, and even the inspections while the work is being completed. What Does an FHA 203k Consultant Do? An FHA 203k consultant is someone who helps home …

Can a Seller Refuse an FHA Loan

Can a Seller Refuse an FHA Loan?   There are home buyers who are shopping for their dream home, but find some sellers are not accepting offers if they are using FHA insured financing to make the purchase. A seller is legally permitted to refuse offers from buyers who are planning to use an FHA …

Is an FHA Streamline Refinance a Good Idea?

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

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? Types of FHA Loans

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 …

Top 20 First Time Home Buyer Questions

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 …

Do FHA Loans Have a Pre-payment Penalty?

Do FHA loans have a pre-payment penalty? When shopping for a mortgage it is important to fully understand the costs of financing the home and the terms of the mortgage program you are applying for. There are some mortgage programs that will have a pre-payment penalty which could result in a costly expense should you …

How to Apply for an FHA Loan in 5 Steps

How to Apply for an FHA Loan FHA loans are widely available and represent over 25% of all mortgages in the United States. They allow for a small down payment of just 3.5% and some lenders will accept borrowers with very low credit scores. How to Apply for an FHA Loan FHA loans are available …