Tag Archives: FHA

Proposed Changes to FHA Loans

We can all expect some changes in the coming months as the Federal Housing Administration (FHA) works to fix their problems. The first fix is towards their insurance premiums, which will be raised. The second is still only a proposal, but would limit the amount the seller can contribute to the closing costs of a home purchase. These fixes are in response to the FHA not meeting federal mandates which… Read More »

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

As compared to conforming loans and jumbo mortgages, Federal Housing Administration (FHA)-backed loans are popular for several reasons. FHA allows a 3.5% downpayment FHA allows refinances without appraisal FHA mortgage rates are usually really low Relative, though, one place where FHA mortgages can fall short is with respect to mortgage insurance. As compared to loan types including conventional, USDA and military loans, FHA mortgage insurance premiums (MIP) are sometimes cumbersome and costly.… Read More »

How to Get a Home Loan With Low Income

Those who have low-income will always face problems when it comes to getting approved for home loans. And it is not only with mortgages, but also with getting approved for credit cards and other type of loans. However, this does not mean that all is completely lost if you have low-income, and you would want to own your own home. There are a few steps you can take to get… Read More »

VA Loans Or FHA Loans – What is the Best Home Loan Option For Veterans?

VA and FHA Loans are both great federal backed mortgage programs. When comparing the two federal home loan programs, it’s only natural to wonder which one might be right for you. There are obvious distinctions between military and FHA mortgages. Loan limits, qualifying requirements, down payments and fees can all vary between the two programs. Determining whether VA or FHA is the appropriate loan for a specific situation involves weighing… Read More »

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 »

5 Risks With Making FHA Loans

FHA is the hottest niche. You are going to be making tons of money with FHA loans this year. FHA is the new sub-prime. This is the hype we are hearing. Now for a little reality check on FHA. Plainly stated, there is some risk with FHA loans. The money is there for the making, but if you are about to get involved in this great lending niche, you should… Read More »