FHA Questions Archive

Can FHA Closing Costs be Rolled into the Loan?

Can FHA Closing Costs be Rolled into the Loan?   FHA loans offer home buyers some great benefits ranging from the low-down payment requirement to very competitive rates. These loans are extremely popular with first time home buyers who have very little in savings for the down payment and even less money available for closing …

Are FHA Loans Assumable?

Are FHA Loans Assumable? FHA is an acronym for the Federal Housing Administration. An FHA loan is a mortgage that is issued by an approved FHA lender and insured by the FHA itself. It is designed for low to moderate income borrowers with lower credit scores and a reduced minimum down payment.  Which begs the …

FHA Loan With a Part Time Job

Getting an FHA Loan With a Part Time Job Today’s home buyers have various sources of income and the days of the traditional 9 to 5 job are becoming a distant memory. People are multiple sources of income and many people have a part time job either as a supplement to their full-time income or …

Can I Get an FHA Loan For a Second Home

Can I get an FHA Loan for a Second Home? FHA loans guidelines are very strict when it comes to the area of occupancy. The guideline state that an FHA loan is intended to be for your primary residence only. However, there are ways to purchase a second home with an FHA loan. Can I …

Can I Get an FHA Loan with Medical Collections

FHA Loan with Medical Collections Most collections or charge offs on your credit report will negatively impact your ability to qualify for a mortgage. In some instances, you may still qualify but for a lesser amount if the unpaid balances are being counted against you in your back-end debt to income ratios (DTI). Can I …