What are the pros of getting a loan from the FHA?
Quick Summary FHA loans have a lot of benefits, like requiring less of a down payment and a lower credit score. FHA loans are easier to get because lenders are ... Read more
View ArticleWhat is an FHA 203b loan? Find out how you can make the most of it.
Summary The FHA 203(b) loan, also called the Basic Home Mortgage loan, makes it easier to get a mortgage by requiring lower credit scores and less of a down payment. ... Read more
View ArticleAre DACA recipients eligible for FHA loans? It really is Great News!
Quick Summary DACA recipients will be able to apply for FHA loans starting on January 19, 2021. As a Dreamer, you must demonstrate your legal right to be in the ... Read more
View ArticleFHA Loan Employment Requirements
Quick Summary Lenders will want a two-year employment history supported by W-2 and/or 1099 papers. Any employment gaps must be explained; school and military service are exceptions to the two-year ......
View ArticleWhat Exactly Is an FHA Streamline Loan? (And How To Take Advantage)
Quick Summary To qualify for an FHA streamline refinance loan, you must already have an FHA loan. If you have had your mortgage for at least 6 months, you may ... Read more
View ArticleIs it possible for a seller to refuse an FHA loan? True, but you still have a...
Key Takeaways The seller has the option to reject and select whichever offer or loan they believe is best for them. The tighter home inspection is the most unappealing part ... Read more
View ArticleCan You Avoid an Appraisal on an FHA Loan? It all depends…
Key Takeaways Lenders utilize home appraisals and inspections to determine how much money they will lend you. These are mandatory for If the assessment is lower than what you offered, ... Read more
View ArticleHow Long After A Foreclosure Until I Can Get an FHA Loan?
Key Takeaways After a foreclosure, you must wait three years There are exceptions for this three-year period, but only in extreme cases. In addition to the time frame, you must ... Read more
View ArticleWhy Would an FHA Loan Be Denied by an Underwriter? (This is critical)
Key Takeaways Underwriting is the process of determining whether or not an applicant’s finances are suitable for an FHA loan. In 2020, the FHA loan denial rate was 14.1%. Before ... Read more
View ArticleIs it Possible for a Felon to Get an FHA Loan? Yes! Here’s How It Works
Key Takeaways Borrowers are not required to undergo a criminal background check by lenders. Lenders are more concerned with your current financial potential than with your previous criminal history....
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