Newly graduated students lucky enough to get a job after graduation have to overcome many hurdles on the path to home ownership including establishing a good credit score, saving for a down payment, and being able to show enough income. In addition to the standard barriers to home ownership listed above many new graduates trying […]
How Student Loan Debt Can Wreck Your Chance of Buying a Home
November 13, 2015 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage
FHA Eases Guidelines on Condo Loans
November 13, 2015 Filed Under: Benefits of FHA Mortgage, FHA Condo Loans, FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA property
Many potential buyers and mortgage lenders have long complained about what they consider to be tight restrictions on condo related FHA mortgage financing. In an attempt to expand financing options for borrowers purchasing condos the Federal Housing Administration announced changes that make it easier to obtain FHA financing for condos. The new guidelines, as detailed […]
Reverse Mortgages – A Visual Explanation
October 29, 2012 Filed Under: FHA Eligibility Requirements, FHA HECM, FHA Home Equity Conversion Mortgage, FHA loan, FHA reverse mortgage
Reverse mortgages have been receiving a lot of bad press lately due to multiple news reports on elderly citizens with reverse mortgages being foreclosed out of their homes. This situation was noted in a post done earlier this year in which the details of the pitfalls of reverse mortgages were examined. The nonstop ads on […]
States Move To Protect Seniors Considering A Reverse Mortgage With Face-To-Face Interviews
August 15, 2012 Filed Under: FHA Eligibility Requirements, FHA Home Equity Conversion Mortgage, FHA loan, FHA mortgage, FHA reverse mortgage
The nonstop ads on cable television make it sound like reverse mortgages are the magical solution to every financial problem faced by the elderly. Reverse mortgages are, in fact, the most complex mortgage product out there. Most seniors probably don’t fully comprehend what they are getting into with a reverse mortgage unless they possess a […]
Getting FHA Mortgage Approval After Bankruptcy Is Easier Than You Think
April 27, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA Mortgage Basics
Many potential homeowners mistakenly believe that they must wait a very long time to qualify for mortgage approval after declaring bankruptcy. Depending on the circumstances, however, this is not the case. Easy FHA mortgage guidelines allow some borrowers to become homeowners as soon as 12 months after a bankruptcy. The primary factors determining how soon […]