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 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 […]
FHA Fixed Mortgage Rate Of 2.75% Possible By Year End
July 19, 2012 Filed Under: FHA loan, FHA mortgage, FHA refinance
How low can mortgage rates go? A few short years ago, borrowers who were able to refinance in the mid to low 5% range thought they would never have to refinance again. Little did anyone realize during the housing boom years that the subsequent crash in housing prices would result in mortgage rates lower than […]
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 […]
Are Only U.S. Citizens Eligible For FHA Loans? Facts vs. Myths
April 12, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA Mortgage Basics
During my discussions with loan applicants, there seems to be a common misperception that only U.S. citizens are eligible for FHA mortgage financing. I can recall a long list of second hand stories from people who “heard about” illegal immigrants receiving FHA financing using forged and fraudulent documents. Although it is certainly possible that some […]