New FHA condo mortgage changes that begin in mid-October will make condo buying easier for buyers with small down payments and less-than-perfect credit.
The FHA 203k loan is a “home construction” loan available in all 50 states. The major benefits, plus some things to watch out for.
Buying a condo is great…most of the time. But they come with additional risks and costs. Learn the costs and risks of condo ownership.
There are a number of VA loan service requirements. They determine how much borrowers pay to use the VA mortgage program. VA-qualified borrowers can obtain mortgage financing with very advantageous terms. So how do the advantages (and eligibility requirements) of a VA loan stack up against USDA and FHA loans? Let’s find out.
FHA is one of the most popular home buying programs in existence. What does it take to qualify? Do you make too much to be eligible for FHA?
FHA credit score eligibility depends on just a few special numbers. That, at least, is the quick take. But if you look deeper you can see that the relationship between FHA mortgages and credit scores is more complicated.
The FHA down payment is just 3.5% for most borrowers. As down payments go it’s certainly a lot less than the 20% up front some mortgage programs require. But is there a way to make the FHA down payment even easier?
FHA or USDA mortgages, which should you choose? It’s not an easy question and there’s no single answer which is right for everyone. But it’s a question many borrowers should ask. The right answer can mean big mortgage savings.
How do FHA loans work? Everyone has heard about such mortgages but why does a government financing program introduced in the 1930s work so well today, especially for first-time borrowers?