The FHA loan program has helped millions of buyers unlock the door to homeownership over the years through minimum down payment mortgage options. With the recent housing market crash about five years ago, options for 100% home financing have pretty much evaporated. In fact today there are only a few …Read More
FHA Home Loan Information
Florida FHA Reverse Mortgage 101
Florida senior homeowners have programs which allow them to benefit from the equity that they have built up in their homes over the years. One such loan program is the FHA mortgage reverse loan, also known as the Home Equity Conversion Mortgage (HECM). Just like every other reverse mortgage loan, …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
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
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
Big Boost To FHA Home Buyers With Student Loans
Some great news was recently announced for home buyers that have student loans. FHA along with the Biden administration is easing FHA lending rules to give borrowers that have student loans a better chance of qualifying for a home loan. The Federal Housing Administration (FHA) announced changes to its student …Read More
Buyers Tax Returns: What FHA Lenders Require
Whether you’re self-employed or you have an employer, FHA loan guidelines require the lender to review recent federal income tax returns. Even if you get paid the very same amount on the 15th and 30th of each and every month, you can expect to be asked for copies of your …Read More
FHA Loans Only 3.5 Percent Down Homestead Florida
For those that are not VA home loan eligible but still want or need a mortgage loan that requires as little cash as possible, the FHA loan should be a likely candidate for properties located in Homestead, Florida or Miami-Dade County. Back in 1934, in an effort to jump-start the …Read More
FHA Loans For First Time Homebuyers Pensacola
Most homebuyers in Pensacola has several financing options when it comes to taking a mortgage on their home. One of the most popular is the Florida FHA mortgage loan. The FHA mortgage loan came into being with the objective of increasing ownership by providing homeowners with a cheaper and more …Read More
FHA Loan Guarantee Fee Explained
There are two primary types of mortgage loans available in today’s marketplace- conventional and government-backed. Conventional loans are those made by lenders who assume the risk of the mortgage loan and are not compensated in any way should the loan eventually go into default. Government-backed mortgages do have a degree …Read More