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 […]
FHA Loans
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 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 guarantee […]
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 2020 FHA Loan Limits
FHA recently announced some great news for homebuyers using the loan program in 2020. The loan limits have increased nationwide. Home buyers can view the new 2020 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, […]
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 […]
5 Reasons Why FHA Loans Get Turned Down
FHA loans are the most popular of the three government-backed home loan programs. The VA loan is a very attractive option for those who are eligible such as veterans and active duty personnel and the USDA loan has income limits and the property must be located in an approved area. The FHA loan does require […]
FHA Home Loan Process Explained
FHA loans are one of three government-backed loans that come with some level of guarantee to the lender issuing the loan. With the FHA program, should the loan ever go into default the lender is compensated for the loss. This guarantee comes in the form of two separate mortgage insurance policies that accompany the loan, […]
Top Things Buyers Should Know About FHA Loans
FHA remains a popular choice for home buyers in Florida, especially first time buyers. In regards to home mortgages, very careful steps have to be taken and each one considered in-depth since we are dealing with a commitment that will last for many years. Being overly anxious to acquire a home and finally getting it […]
FHA Loans Ocala Florida
FHA loans are one of the three main mortgage programs that carry a government-guarantee to the lender. These three mortgage programs are those underwritten to standards issued by FHA, VA and the USDA. The VA and USDA loans have certain restrictions such as who is eligible or where the property might be located. FHA loans […]
FHA Loans Plant City, Florida
In 1934, Congress introduced the National Housing Act which established universal lending guidelines banks could follow. These new guidelines formed the Federal Housing Administration which set forth lending guidelines banks could follow. The FHA loan has since become the loan of choice for those buying in Plant City, Florida who prefer a loan program that […]
Georgia FHA Loan Benefits
The Georgia FHA mortgage has become the first choice to the majority of first-time homebuyers in Georgia. The Georgia FHA loan program offers several benefits, keeping in mind the budget constraints of most homeowners who are interested in buying their very first home. Compared to most conventional mortgage loans, the FHA loan facilitates the buying […]
North Carolina First Time Buyer Approval Process
Buying your first home can be both exciting and scary at the same time. At the very first mention of buying your first home, suddenly there are real estate agents, insurance agents, friends and mortgage lenders who seem to appear willing to help. Yet knowing you want to buy your first home and finding out […]
Georgia FHA HUD 100 Down Program Insight
Since the slowdown in the housing market years ago, options for 100% home financing have pretty much disappeared. In fact today only a few home loan options in Georgia remain that allow NO down payment home financing – USDA and VA. USDA loans require the property to be located in a rural defined eligible area, […]
Tampa FHA 203K Mortgage Loan
The FHA 203k is offered by the Federal Housing Administration, via approved FHA lenders and allows homebuyers in Tampa to purchase a fixer-up property with as little as a 3.5% down payment. This mortgage program is different than the standard FHA 203b loan. The 203K allows home buyers to purchase a home without using their […]
Jacksonville FHA Loan Benefits
The Jacksonville housing market is going strong with increased buying activity. 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 need for many buyers. The Federal Housing Administration is a government-backed mortgage that helps individuals purchase a […]