FHA has released the new 2021 loan limits for this year. Nearly all counties across the nation saw an increase as expected. This is great news for homebuyers utilizing FHA financing as now their borrowing potential is higher. For 2021, the FHA mortgage limits were set to $356,362 for 1-unit …Read More
FHA Home Loan Information
FHA Home Loans Naples, Background and Credit Qualifying
The FHA mortgage program was created way back in 1934, Back then, lending guidelines were far from universal and many banks would require 30%+ percent or more for a down payment. Buyers also had to have a standing relationship with the bank. Mortgages years ago would be for a relatively …Read More
2021 FHA Loan Limits Announced – Increase For Most
Some good news from the Federal Housing Administration (FHA) today as they announced the new 2021 FHA loan limits. Most of the nation will see an increase, according to a new letter from HUD. FHA calculated 2021’s forward mortgage limits based on the median home prices in accordance with the …Read More
Florida Government Mortgages: FHA Vs USDA
We often get the question of which government program would be better, FHA or USDA? A quick search on the internet will give you a general view of each program’s benefits. Most of them suggest the USDA loan would be the better choice assuming you meet the two key eligibility …Read More
Orlando FHA Loan Details and Benefits
FHA loans are perhaps the most popular mortgage choice for buyers in Orlando and the surrounding counties. In this post, we will discuss the Orlando FHA loan details and benefits that home buyers should know. The Federal Housing Administration introduced the FHA loan program in 1934 in order to bring …Read More
Jacksonville First Time Buyer Loan Programs Explained
First-time buyers are the catalysts in nearly every real estate market, Jacksonville included. When someone buys their very first home, that allows the existing property owners to move up and buy their second or third home. Over time, as equity builds, current owners then use that accrued equity to move …Read More
FHA Loan Guidelines Self Employed Buyers
Home buyers are required to provide proof of employment as well as income to qualify for any conventional or government-backed (FHA) mortgage today. This is accomplished in two different ways, with paycheck stubs and W2s and the lender sending a Verification of Employment, or VOE form, to the individual’s employer. …Read More
Can a Co-Borrower Help You Qualify For Mortgage?
Sometimes you just need a little help. When thinking about buying a home, you want to make sure you can afford the new monthly payments. To do this, you need to speak with a mortgage loan officer. With just a brief conversation over the phone, you can get an update …Read More
Four Things to Avoid When Applying For Mortgage
Buying your very first home is a combination of a little excitement and anticipation. You can do all the research you want but until you get ready to take the leap and speak with your loan officer, you’ll soon discover there’s probably a bit more to it than just filling …Read More
New 2021 FHA Loan Limits
The Federal Housing Administration (FHA) announced today the maximum loan limits will increase in 2021. The loan limit in lower-cost areas will be $356,362, or about 65 percent of the national conforming loan limit of $548,250. In high-cost areas, the limit will be higher at $822,375. FHA-insured reverse mortgages will …Read More