When you’re in the market for a new home or considering refinancing your current mortgage, an FHA loan could be a smart option to explore. FHA loans are known for their relative ease of qualification and consumer protections, which is particularly beneficial for potential home buyers with less-than-perfect credit histories or those needing a refinance loan. In this article, we’ll walk you through the key FHA loan requirements, leveraging information from the Congressional Research Service and an FHA Reference Guide to give you a well-rounded understanding.
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By Loans101 at 4:45 pm on March 23, 2024
Low to moderate income home shoppers represent a large group of 21st century first time buyers. Regrettably, they’re a group that was also sidelined in the recent housing recovery due to overly strict loan requirements and limited low down payment mortgage options offered. Read More
By Loans101 at 1:16 pm on April 23, 2022
Buying your first home is a big deal, and the process can be overwhelming. The good news is that there are many resources available for first time buyers. Some are designed to make the process a little easier, while others are specifically aimed at buyers in particular areas. For instance, down payment assistance programs can help you buy your dream house without breaking the bank. Read More
By Loans101 at 11:25 am on March 9, 2022
A USDA loan is a home mortgage offered by the United States Department of Agriculture (USDA). The program is designed to help rural Americans buy homes. These loans don’t require a down payment and carry low, fixed interest rates. However, there are some important requirements for eligibility. Read More
FHA loans are a great way to purchase a new condo with a small down payment, or refinance a condo will a small amount of equity. FHA approved condos contain a few key characteristics that make FHA condo loans unique from other mortgage programs. Read More
