Sponsored Links


FHA Loans

The FHA Loan Process

Applying for an FHA loan is pretty much the same no matter which mortgage lenders you approach for the loan. It’s important to remembered that the FHA itself does not actually give the loan to you. Rather, what they do is to insure the loan.

But, because they are on the hook for the money that you borrow if you fail to pay back the loan, they are involved in the entire loan process; including an inspection of the property which you are buying to make sure that the property you are attempting to buy with an FHA loan meets their construction and repair standards.

Getting an FHA loan is a four step process…

Read more...

Be the first to comment - What do you think?

What Is An FHA 203k Streamline Loan?

FHA 203k Streamline Loans are part of the whole FHA 203(k) Rehabilitation Loan Package that is available to qualified  borrowers.  It is made available to certain lenders by HUD and may be used to purchase a “fixer-upper” opportunity or to fix up (rehabilitate or “rehab”) your current home. The advantage of this type of loan is that you can both purchase and fix-up the property with one loan. You can get any of three types of FHA 203(k) Streamline Loans: One-year Arms (Adjustable Rate Mortgages – <click here> to find out why you may give up an “Arm and a Leg” if you get an ARM!); 15-year Fixed Rate Mortgages; and, 30-year Fixed Rate Mortgages. There are 5 different property […]

Read more...

Be the first to comment - What do you think?

FHA Loan Closing Costs

FHA loan closing costs are carefully controlled by HUD rules and regulations.  This is very good for the borrower (you) because it keeps you from being charged unreasonable fees by your lender.  In other words, the government keeps you from getting ripped off by lenders. Closing costs and related fees are normally paid at closing. The actual sale of the home that you are buying occurs in a special meeting called “the closing.”  During the closing process, all the appropriate documents are signed, title insurance is formally issued and money finally changes hands. There are two types of closing meetings: sit down and individual.  At a sit down closing all the interested parties meet at a specified time and place and […]

Read more...

Be the first to comment - What do you think?

FHA 203k Rehab Loans

FHA 203k Rehab Loans are available for the recovery (rehabilitation) and repair of single family homes.  When you get right down to  it an FHA 203(k) Rehab Loan is a home improvement loan.  Because of this, many lenders are using them to work in partnership with state and local housing agencies and related non-profits to revitalize lower income communities. These loans are good for both you and the lenders.  The lenders get “brownie points” with HUD (Department of Housing and Urban Development; a part of the Federal Government) and other governmental organizations by fulfilling their responsibilities under the Community Reinvestment Act (CRA). Also, FHA 203k loans have been successfully combined with HUD programs such as HOME, HOPE and Community Development […]

Read more...

Be the first to comment - What do you think?

What are FHA 203b Loans?

If you are interested in FHA 203b Loans, you should find out about USDA-Guaranteed or USDA-Direct Mortgage Loans. USDA loan guarantees and direct-mortgage loans are designed to encourage growth in rural areas. Many cities, by the way, are actually in or contain designated rural areas! These loans help people who might not otherwise be able to qualify for home mortgages buy the home they have always dreamed about! <Click Here> to learn more… FHA 203b loans are the FHA loan program of choice for most people. You may use an FHA Section 203(b) fixed-rate mortgage loan to purchase new or existing 1-4 family homes, condos or townhomes, in either urban or rural areas.  There are limits to the amount of […]

Read more...

Be the first to comment - What do you think?

Next Page »