You’ve probably heard nightmare stories about how long the FHA loan takes to close. People claim they waited months for a closing. What they don’t tell you is the factors that delayed that closing. Most of the time, it has nothing to do with the FHA. Instead, it has something to do with the loan … [Read more...]
How to Buy HUD Homes with No Money Down
HUD homes are those that once had FHA financing on them, but the borrowers defaulted. The home is now in the possession of the FHA. The last thing they want is an inventory of homes. The FHA lists the home for sale in the hopes that someone will buy it. Usually, you can buy a HUD home for much … [Read more...]
Can the Borrower be the Contractor on an FHA Loan?
You want to build or renovate your own home, but need FHA financing. Will the FHA let you be your own contractor? It depends on the situation. Here we look at the construction-permanent loan as well as the FHA 203K loan. Read our guide below to help you decide if doing your own work is the right … [Read more...]
Net Tangible Benefit Requirements for the FHA Streamline
The FHA Streamline loan offers the chance to refinance without much verification at all. The largest issue is the net tangible benefit requirements. These are non-negotiable with the FHA. Everything else is fairly straightforward and even flexible. Without enough of a benefit, though, you’ll have to … [Read more...]
Simple Changes That Make Your Home More Energy Efficient
Let's face it. Making energy efficient and eco-friendly choices have a lot of advantages. Making these changes would definitely make a home a lot safer to live in and ultimately, it helps save the environment. Studies even show that indoor pollution is potentially more dangerous. According to the … [Read more...]
Here Are Four Reasons Why an FHA Loan Is a Good Idea
FHA loans are popular among first-time homebuyers. However, almost everyone could qualify for this type of financing. But is it a good idea? Remember that FHA insures your loan. The agency doesn't lend the actual mortgages. But this assures borrowers to score better mortgage deals from its … [Read more...]
What are the Possible Disadvantages of an FHA Loan?
One great way finance a home purchase or refinance an existing mortgage is through the FHA home loan program. With more lenient lending standards and very little down payment required, the FHA loan as gain so much popularity. For also 8 decades, the Federal Housing Administration (FHA) has helped … [Read more...]
Looking For a New Home? Here Are A Few Things To Consider
The entire home buying process can be a little stressful and lengthy. It’s typical to have questions, see a few road blocks here and there and deal with the stress of mortgage applications. But before all that, it's a good idea to check if you are ready to go through the process of owning a home … [Read more...]
Debt Consolidation Options for Borrowers with Poor Credit
You are tired of the mound of debts sitting on your desk. Every month feels like a juggling act. You want to get out of debt, but you have bad credit. They often go hand-in-hand. How can you get help if your credit score is too low? No lender will give you a new loan, right? Luckily, there are … [Read more...]
What are the FHA Loan Employment Requirements?
Have you changed jobs and worry about your FHA eligibility? Do you think you need 2-years of employment before applying for an FHA loan? You aren’t alone. But, you may be in luck. The FHA has flexible guidelines when it comes to your job. They want consistency and reliability. You can demonstrate … [Read more...]
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