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Tag Archive | "FHA mortgage"

What is an FHA Loan: VA and FHA Mortgage Insurance

What is an FHA loan? The quick answer is that an FHA loan that is backed by the FHA. VA and FHA mortgage insurance protects lenders against non-payment of a loan by the borrower. Although the terminology can be confusing, FHA loans, mortgages and insurances are all the same thing, insurance policies. The same is […]

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Boomerang Buyers and Mortgage after Foreclosure

Boomerang Buyers is the name given to those that are being offered new mortgages after suffering foreclosure on their previous homes. Foreclosure is a dreadful thing to happen to any home owner. However, under the right circumstances, it is possible get a mortgage after foreclosure. The stigma and fallout of going through a foreclosure does […]

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Standard Mortgage or FHA Mortgage: which Should You Choose

There are many questions regarding differences between standard or FHA mortgages. An FHA mortgage is not offered by the FHA (Federal Housing Administration), but is insured by that body. In effect, the FHA will underwrite a loan offered by a lender that would not normally have offered the loan. If a mortgage applicant is deemed […]

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Who Should Apply for FHA loans and VA Mortgages?

Who should apply for FHA loans rather than take regular home loans, and are veterans better with FHA or VA mortgages? Let’s first look at why people apply for FHA mortgages, and then discuss the FHA vs. VA question. FHA Loans If your credit score is low and your credit record has a few blemishes, […]

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FHA Streamlined 203(k) Loan: Loan For Moderate Rehab

The FHA streamlined 203(k) loan is different from the standard FHA 203(k) loan for distressed homes in that it is designed for minor changes to your new home that will cost no more than $35,000 to complete. Major remodeling is out, but you can still carry out minor cosmetic alterations to your home using this […]

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Mortgage Down Payment Assistance Programs

Down payment assistance programs (DPA) are designed to help you with your down payment when buying a home. If you are having trouble raising the cash needed to buy your home, then help is available – but funds are limited, and many state and local governments will rapidly run out of such assistance. DPA did […]

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