FHA Questions Archive

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 realize …

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 …

Are all FHA Lenders the Same? Finding the Right Lender

Are all FHA Lenders the Same? FHA loans are the mortgage of choice for many first-time home buyers because their guidelines are more flexible than Fannie Mae and Freddie Mac approved loans. FHA guidelines will allow for lower credit scores and low 3.5% down payment. Most lenders in the United States with a few exceptions …

How to Get the Lowest FHA Interest Rate Today

How to Get the Lowest FHA Interest Rate Today Many home buyers are laser focused on finding the lowest FHA interest rate when they are shopping for a mortgage. In many instances, the published rates online or in a newspaper ad are either expired or they apply to a small subset of borrowers. There are …

Do FHA Loans Have Higher Interest Rates?

Do FHA Loans Have Higher Interest Rates? Nearly 30% of all home buyers are using FHA loans to finance their new home purchases. These loans are extremely attractive due to the low-down payment requirement and the flexible credit score minimums. What many people ask is whether the interest rates are competitive. Do FHA loans have …

What are the FHA Income Limits?

Do FHA Loans Have Income Limits? FHA guidelines have many rules and qualifications which all must all be met if you plan to finance your home with an FHA insured loan. There are also loan limits and debt to income limits. One of the questions that borrowers ask at times is whether FHA loans have …