What is an FHA Loan?

What is an FHA Mortgage Loan?
HUD (Department of Housing and Urban Development) which was formed in 1965 operates the Federal Housing Administration which administers the Govenment Home Loan Mortgage Insurance Program.    This program insures the lender against default by a borrower whose home loan is insured by the FHA.  Hud and FHA do not make [...]

FHA Credit Guidelines

FHA Credit Guidelines which borrowers and lenders must follow in order to obtain FHA financing for purchase and refinance loans.
Purchase Loans, Cash Out Refinance Loans, Rate Term Refinance Loans
A credit blemish here and there are not always a flat out reason for credit denial. There are many factors that come into play in underwriting [...]

FHA Underwriting Guidelines

FHA Underwriting Guidelines
Mortgage Credit Analysis
The 4 C’s of Credit:
Credit History
Cash to Close
Capacity to Repay
Collateral
All of these topics will be discussed in this post.   There will be revisions to these policies over time so pay attention to the FHA website they will affect a borrowers ability to qualify. These guidelines are extrapolated from the 4155.1 published [...]

The Mother of All Refinance Booms is Coming!

The Mother of All Refinance Booms is on it’s way… maybe.
We should know very soon if we will be seeing rates of 4.5% for a 30 year fixed rate loan.  If that happens it will help hundreds of thousands of homeowners struggling to make their payments if they are able to refinance into a much [...]

Hope for Homeowners – H4H

Hope for Homeowners – H4H
FHA – the Federal Housing Association – is offering the Hope for Homeowners Mortgage Lending Program. It is a solid step to help homeowners who are in distress by having a difficult time making their mortgage payments.
The program will allow borrowers who qualify to refinance into an FHA insured mortgage. [...]

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