Tag Archives: FHA Loan

How FHA 203(K) Loan Benefits 1st Home Buyers | Part 1

As a 1st home buyer, searching for the right home within Southern California market offers a long list of home characteristics to consider. For example, one such question is ‘are you looking to purchase a condo or single family residence?’ Another question many 1st home buyers are finding themselves considering is if they should buy a home that is in either in need of repairs or is in mint condition?… Read More »

Is an FHA Loan Still a Good Deal?

The Federal Housing Administration (FHA) is an agency that aims to assist hopeful future homeowners to successfully gain ownership of a property. For one, FHA loans are widespread among those who have difficulty in financing. However, any borrower must see both sides of this loan so a profitable venture could be expected in the end. Basically, an FHA loan enables a buyer to give a small down payment upon purchasing… Read More »

Shop Around For Your FHA Loan

Because many people don’t understand where the FHA loan comes from they assume that they are all created equal, but nothing can be further from the truth. What you need to understand when you are applying for this type of loan is that while they are all insured by the Federal Housing Administration they are not all funded by the same lender, which means that the specifics, and therefore the… Read More »

The FHA Loan: Fact Vs Fiction

“FHA-insured Loans are Impossible to get if you have Bad Credit” FICTION. Although the FHA lending standards have gotten more strict since 2008, it’s still possible to get a loan after short sale or buy a house after foreclosure using an FHA loan. “FHA-insured Loans are for Poor People.” FACT. Of course, this all depends on how you define “poor,” but the mission statement of the FHA is to serve… Read More »

Basic FHA Loan (Home Mortgage Insurance – HUD/FHA)

The basic FHA loan which falls under section 203b is an effective mortgage insurance loan provided by the HUD/FHA to protect lenders against risk of default. Section 203b is the basic FHA loan which is a mortgage insurance program form for single families. This housing loan is provided by the HUD’s FHA or the Federal Housing Administration to insure the mortgage loans made by the qualified private lenders to people refinancing… Read More »

100 Percent Mortgage Financing – Qualifying for a FHA Loan

If looking for a no money down or 100 percent mortgage financing, you have several options. Understandably, many homebuyers have little cash on hand for a down payment. Because of the increase in home prices, saving the typical 20% is practically impossible. Fortunately, FHA home loan programs offer 100 percent mortgage financing, which eliminates the need for a large down payment. Here are a few tips on qualifying for a… Read More »