Category Archives: Loans / Mortgages
What is an FHA 203k loan
Most lenders will only provide a loan under certain conditions. Primarily among them is the value of the home should be sufficient to cover the sale of the property if the homeowner fails to repay the loan. This protects the … Continue reading
What is a FHA streamline loan?
If you currently have a FHA loan and you’re considering refinancing to reduce your monthly payment, then you will most likely want to take a look at what FHA has to offer you. A FHA Streamline loan is a loan … Continue reading
Refinancing with FHA
Many people have FHA loans that were issued a few years ago under poor credit conditions. These “sub prime” loans have a much higher interest rate than what would now be offered. If you currently have a high interest rate … Continue reading
How your credit affects an FHA loan
Your credit score is one of the three main criteria used to qualify for a mortgage. The two other factors are: DTI Ratio (debt to income), which is your income versus your expenses, and LTV (loan to value), which is … Continue reading
FHA vs Conventional Mortgages
Many people do not understand what a Federal Housing Authority (FHA) loan is or the difference between a FHA loan and a Conventional loan. Here are some basic details on FHA loans to help you understand what you’re getting if … Continue reading
How do I qualify for a FHA loan?
A Federal Housing Authority (FHA) loan is more personalized and flexible than a Conventional loan. Because of the FHA expanded guidelines, you are likely to be approved for an FHA loan even if you have a blemished credit history or … Continue reading