Many FHA borrowers are needlessly paying extra interest charges by paying off an FHA mortgage before the end of the month. The reason behind the extra interest charges is due to the method by which the FHA calculates the final interest charges due on an FHA loan payoff. For all other types of mortgages that […]
Archives for July 2011
Why You Should Always Pay Off An FHA Mortgage At The End Of The Month
July 7, 2011 Filed Under: FHA mortgage, FHA Mortgage Basics
FHA Caps On Borrower Closing Costs Paid By Sellers
July 6, 2011 Filed Under: Benefits of FHA Mortgage, FHA mortgage, FHA Mortgage Basics
One of the benefits of FHA financing is the ability of home buyers to have the seller pay for certain closing costs. The FHA allows sellers to pay specified closing costs, subject to a percentage limitation, on behalf of borrowers. The ability of home buyers to obtain seller concessions is one of the major benefits […]
Can I Get An FHA Mortgage After A Bankruptcy?
July 1, 2011 Filed Under: FHA Eligibility Requirements, FHA Mortgage Basics
A common question for borrowers who have had to file for bankruptcy is if they are still eligible for FHA financing. The short answer is yes but a particular applicant may or may not qualify for FHA financing depending on the individual circumstances and age and type of the bankruptcy. The FHA has different guidelines […]
Basic Requirements To Be Eligible For FHA Financing
July 1, 2011 Filed Under: FHA Eligibility Requirements, FHA mortgage, FHA Mortgage Basics
Applying for an FHA loan can be a complex and sometimes time consuming process. The lender that you apply to for an FHA loan must meet numerous guidelines for loan application, processing and approval as mandated by FHA regulations and rules. In addition, lenders can impose their own eligibility requirements as deemed appropriate so there […]