Reader question: “My husband and I are researching FHA loans because we think we’ll have to go that route (as opposed to using a conventional loan). Some of the rules and guidelines I’ve read about have me worried. It all seems a bit rigid. So my question, are there exceptions to the FHA requirements?” Here’s […]
FHA pre-approval is an important step in the path to financing. This is when the lender reviews your financial qualifications to determine (A) whether or not you are qualified for a loan, and (B) how much they are willing to lend you. This article explains the pre-approval process from start to finish.
There have been rumors that the Department of Housing and Urban Development (HUD) is planning to raise the minimum down payment for FHA loans from 3.5% to 5%. At the moment, however, these are only rumors. Here’s what you need to know. An FHA loan is a federally insured mortgage. They are generated in the […]