Seller Contributions on FHA Loans
A reader asks a question about seller contributions on an FHA mortgage loan. “What is included in seller contributions with a max of 6%?” The question refers to something informally known as the “six...
View ArticleFHA Loan Limits: Low-Cost Areas, High-Cost Areas
FHA loan limits can be puzzling to those unfamiliar with how the program works. FHA loans are calculated based upon the appraised value of the property or the sale price, whichever is lower. There are...
View ArticleFair Housing Month And HUD
Fair Housing Month ends this weekend. This month-long campaign to raise awareness of Fair Housing laws is an important one, which includes measures taken by the Department of Housing and Urban...
View ArticleHUD Extends 203(h) Disaster Relief For Louisiana Flood Victims
The Department of Housing and Urban Development has announced an extension of certain disaster relief help for those in certain federal disaster areas in Louisiana. According to a mortgagee letter...
View ArticleMortgage Loan Interest Rate Trends: Up And Down
In our last report we noted that mortgage loan interest rate numbers could be influenced by the substance of the most recent Fed announcement, or more specifically investor reaction to those details....
View ArticleOld Credit Problems And FHA Loans
Do old credit problems come back to haunt you later when you fill out an home loan application? That’s basically what one reader asked us in the comments section this week: “If (a) charge-off was from...
View ArticleFHA 203(k) Rehab Loans: Eligible Repairs
In our previous blog post, we discussed the idea that an FHA 203(k) rehab loan could be used to purchase and modify a property to meet FHA requirements for properties to be no more than four units. In...
View ArticleHappy Memorial Day 2017!
Happy Memorial Day! We pause today from our usual posts about FHA home loans, refinance loans, and related topics to recognize the sacrifices made by our women and men in uniform. Thank you to all who...
View ArticleFHA Loans and Your Credit
Lots of people want to know what credit issues will affect the approval of FHA loans. The shortest answer is that it’s a combination of FICO scores, your repayment habits on all financial obligations...
View ArticleHUD Announces Extension of FHA 203(h) Disaster Insurance
The Department of Housing and Urban Development has announced an extension of FHA 203(h) loans for qualifying residents of federally declared disaster areas in Louisiana. The FHA 203(h) program is...
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