FHA recently announced new guidance for new applicants that have student loans. The new guidelines help to remove obstacles and provide more access to affordable single-family FHA-insured mortgage financing for creditworthy home buyers that have student loan debt. This is great news since the majority of the FHA loan applicants are first-time buyers with already […]
FHA Loans
Gainesville FHA Loan Down Payment & Loan Limits Newly Updated
FHA loans continue to be one of the most popular mortgage choices for homebuyers in Gainesville and Alachua County. The Gainesville housing market has remained robust and increasing with average home values hovering around $245,000. First time home buyers make up a large percentage of Florida borrowers today and FHA loans provide needed low down […]
Jacksonville FHA Loan Benefits
The Jacksonville housing market is going strong in 2022 with increased buying activity. Home values have increased 24% in the last year, for a median sales price of $260,000. More first-time homebuyers are now entering the market and looking for mortgage options that offer manageable terms with a low down payment. FHA financing fills this […]
Richmond FHA Home Lending Requirements
Prior to the introduction of the FHA mortgage program way back in 1934, lending guidelines were inconsistent. Prior to the FHA loan, banks could ask for 30 or 40 percent or more for a down payment. Buyers also had to have a standing relationship with the bank. Mortgage loans were issued for a relatively short […]
Conforming and FHA Loan Limits Increase For 2021
UPDATE: NEW 2022 CONFORMING LOAN LIMITS UPDATED HERE. Conforming and FHA loan limits are increasing for 2021. The higher mortgage limits will allow home buyers to qualify for more when needed. Below we will break down the latest 2021 loan limits. Please contact Coast2Coast Lending 7 days a week with questions by calling the number […]
Recent FHA Mortgage Changes – Impact to Buyers
The mortgage industry has been going through some rapid changes due to the impacts of COVID-19. We have witnessed extremely volatile interest rate movements, along with many loan program changes in recent weeks. In this post, we will discuss some recent FHA changes and there impact on buyers looking to purchase a home. FHA Credit […]
Paperwork Needed For FHA Loans
FHA loans are available to most any buyer that qualifies. Unlike the other two government-guaranteed loans, the VA and USDA programs, there are no restrictions on who can apply or where the property must be located. As long as the home is going to be the borrower’s primary residence, either of the three can be […]
USDA, FHA and VA Loan Guarantees Explained
There are three government-guaranteed mortgages available today. They are the USDA, FHA and VA loan programs and each is designed for a specific type of borrower or situation. They’re called guaranteed because the lender that made the loans is compensated for part or all of the loss should the loan ever go into foreclosure. A […]
Texas FHA Mortgage Benefits For First Time Buyers
Texas FHA mortgages are a great choice for many first time home buyers in Dallas, Houston, San Antonio, etc. The FHA program provides several benefits, keeping in mind the budget difficulties of many homeowners who are considering purchasing their first home. Compared to most traditional mortgage loans, the FHA loan eases the process for the […]
New 2022 FHA Loan Limits
FHA recently announced some great news for homebuyers using the loan program in 2022. The loan limits have increased nationwide. Home buyers can view the new 2022 FHA loan limits here. The FHA mortgage program offers many advantages for homebuyers seeking to purchase a home with little down payment. Some of the program advantages include: […]
FHA Loan Guide For Daytona Beach Home Buyers
The FHA home loan continues to be a popular home financing option for home buyers in Daytona Beach. But it’s important for buyers to understand what they are getting. Being a Government-backed program, the FHA mortgage is one of the most conservative mortgages available today. Low down payment of only 3.5%, No prepayment or early […]
Atlanta FHA Loan Benefits First Time Buyers
Georgia FHA loans are a popular choice for many first time home buyers in Atlanta. The FHA mortgage program provides several benefits, keeping in mind the budget difficulties of many homeowners who are considering purchasing their first home. Compared to most traditional mortgage loans, the FHA mortgage loan facilitates the process for the applicant. In […]
Using an FHA Loan in Orlando
When you think of Orlando, the first thing that likely comes to mind is all the theme parks located there. Of course, the flagship is Disney World which is home to the Magic Kingdom and Epcot Center. Universal Orlando hosts Universal Studios, Islands of Adventure and the popular World of Harry Potter. Located in Central […]
Which Type of FHA Loan is Best?
Did you know there was a choice? Did you know that an FHA loan is not just a single loan program but actually several? Sometimes thinking about which loan program is best for you, it can get a little complicated. Mortgage programs aren’t designed to be complicated but new programs can come about to address […]
FHA Loan Application Preparation
It always helps to be well-informed in order to increase your chances of successfully getting your FHA loan approved. Buyers should be aware of what steps should be taken before and after applying. Before Applying: Credit check It’s usually the little things that bring down your credit score. Check your income, credit, as well as […]
Down Payment Assistance and Florida FHA Loans
One of the biggest challenges for those buying their first home is coming up with the necessary funds needed to purchase a home. There is a down payment involved and there are closing costs associated with a new mortgage. For many, it’s not their credit that is an issue nor is having sufficient income to […]
FHA Loan Guide Charlotte Home Buyers
An FHA loan may be best described as a mortgage that is issued by an approved qualified lender or bank, and subsequently insured by the Federal Housing Administration, or the “FHA” as it’s more popularly known. As a general rule, all FHA loans are specifically designed for Charlotte home buyers that may not be in a […]
First Time Buyer Florida FHA Loans
Florida buyers are surprised to learn the FHA loan was introduced back in 1934 and still the top mortgage program for those purchasing their first home. And while FHA is not reserved only for first time home buyers there are some reasons why it’s a good deal for those wanting to come to the closing […]
FHA or VA: Which Loan is Best?
For those who are dually qualified for an FHA loan as well as being VA eligible, there’s a choice to be made and it’s maybe not all that obvious. When financing a home when down payment funds are available, comparing the two options is a good idea. FHA and VA loans can be used anywhere […]
FHA Loan Terms: Which is Right for You?
You probably know the FHA loan program provided stability in the financial markets during the hardships of the Great Depression. By introducing loan guidelines that, if followed by banks, would carry a guarantee to the lender, banks felt more comfortable approving the loan. One of the main guidelines was the term of the loan, or […]