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 5:55 pm on January 7, 2023
Buying a home is an important step in the American dream. However, buying your first home can be complicated. First time home buyer programs can help you save money and make the process easier. Some loans, grants and tax breaks may also be available to you.
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By Loans101 at 4:33 am on January 5, 2023
If you’re in the market for a home, you may be interested in a USDA loan. They’re a great option for first-time buyers and people on a budget. But there are some limitations to their use, so you should understand what you can and cannot qualify for before you apply.
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By Loans101 at 2:06 am on January 4, 2023
A USDA guaranteed loan is one with reasonable qualifying guidelines, even if you have bad credit. The federal government guarantees 90% of the mortgage amount for qualified applicants. To qualify for the loan, you will need to meet certain requirements and you will need to prove that you can repay it. This can be difficult for low income homebuyers. Read More
