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
How Student Loan Debt Can Wreck Your Chance of Buying a Home
November 13, 2015 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage
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 […]
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 […]
FHA Offers Disaster Relief For Storm Sandy Victims
November 2, 2012 Filed Under: FHA 203(k) Loan, FHA Foreclosure Help, FHA loan, FHA mortgage, FHA refinance
HUD Secretary Shaun Donovan announced federal disaster assistance to victims of Storm Sandy. “Families who may have been forced from their homes need to know that help is available to begin the rebuilding process,” said Donovan. “Whether it’s foreclosure relief for families with FHA-insured loans or helping these counties to recover, HUD stands ready to […]
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 […]