Since being created by Congress in 1934 the Federal Housing Administration (FHA) has insured over 34 million mortgages on single family homes. The low down payment requirement and relaxed credit standards of the FHA have allowed millions of people to achieve the dream of home ownership. While the advantages of an FHA mortgage are compelling […]
How Many Years Will I Pay FHA Mortgage Insurance? The Answer May Surprise You
December 1, 2015 Leave a Comment Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage, FHA Mortgage Insurance
FHA Lending Continues to Plunge – FHA Doing More Harm Than Good for Most Home Buyers
April 29, 2014 Filed Under: FHA Foreclosure Help, FHA loan, FHA mortgage, Mortgage Default
The number of FHA originations continues to spiral downward according to the latest FHA Production Report from the Department of Housing and Urban Development (HUD). Total applications received for FHA mortgages declined to 71,011 in January 2014 down by almost 49% from the previous year’s comparable month. The large majority of FHA loans are for […]
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 […]
FHA Purchasers Immediately Have Negative Equity – The Buying Dilemma
May 15, 2012 Filed Under: Benefits of FHA Mortgage, FHA Down Payment Requirements, FHA loan, FHA mortgage, FHA Mortgage Insurance, FHA property
Most first time home buyers who have done their homework know that there are both benefits and disadvantages associated with FHA mortgage financing. Real estate agents and the mortgage industry will typically stress the benefits of a low down payment requirement and flexible underwriting standards with FHA financing. However, there are also disadvantages associated with […]
Do FHA Low Down Payment Loans Make Financial Sense?
April 14, 2012 Filed Under: Benefits of FHA Mortgage, FHA Down Payment Requirements, FHA loan, FHA mortgage
Home ownership rightfully remains the goal of many Americans and a plethora of government loan programs run by agencies such as the FHA, VA and USDA all provide mortgage programs with little or no down payment requirements. Before buying that dream home, however, a borrower should analyze whether or not it makes financial sense to […]