If you take out an FHA loan, you’ll pay mortgage insurance for the life of the loan. The mortgage insurance protects your lender should you default on the loan. It’s in exchange for the low down payment requirements and flexible underwriting requirements the FHA offers.Get Matched with a Lender, Read more
What is the FHA Self-Sufficiency Test?
If you plan to buy a 3 to 4--unit property and will use FHA financing to buy it, you’ll have to pass the FHA Self-Sufficiency test. Understanding the test and how it will affect your chances of loan approval can help you prepare the most.Compare Offers from Several Mortgage Lenders. The Basics Read more
Are There Borrower or Household Income Limits for FHA Loans?
FHA loans are government-backed loans, which makes many people think they have income restrictions or income limits. In other words, many people think you can make too much money and not qualify for the program.Get Matched with a Lender, Click Here.Luckily, this is not the case. You can make Read more
10 Reasons FHA Loans are Popular with First-time Homebuyers
If there’s a loan that many first-time homebuyers turn to, it’s FHA loans. In fact, this loan used to be strictly for first-time buyers. Today it’s a program that is meant for anyone, but certainly those that have never owned a home before can benefit.Looking for Current Mortgage Interest Rates? Read more
Making Home Improvements With FHA Title 1 Loans
Your home needs improvements, but you don’t have the cash lying around to make it happen. If you don’t have equity in your home, you might think you are out of luck. No lender will provide you with a home equity loan without adequate equity. There’s one more option, though, FHA Title 1 loans. These Read more
