Today's featured FHA question

"What is FHA mortgage insurance and how much will it make my payments increase?"

Justine C. - Aventura, Florida

"FHA mortgage insurance (MIP and Upfront MIP) is an additional cost associated with your loan which is paid directly to the FHA..."

FHA Home Loan Information

Approved FHA Lenders are safe-guarded against losses and are able to issue mortgages at very attractive terms. FHA loans offer a low fixed interest rate and qualifying for FHA loans is usually straight-forward...

With an FHA Loan:

Buy a house as little as a 3.5% down payment
Refinance your mortgage to a low fixed rate
Qualify for a mortgage with down to a 500 credit score
203k Rehab Loans can give you additional money for home repairs

FHA Loan Requirements:

Credit: 620 score is desirable but you may be able to qualify down to 500
Income: You must prove that you make enough money to afford the FHA loan
Employment: 2 year consistent work history verified by proper documentation
Appraisal: Your home must be appraised by an approved management company that is HVCC compliant.

FHA Loan Requirements

What will you need? Click the link below to read about FHA Loan Requirements, credit and income requirements, FHA lender guidelines and the documents that may be required by your FHA lender....

Using a Mortgage Broker?

As of April 1st, 2011, mortgage originators will no longer be allowed to collect Yield Spread Premium (YSP) - a fee charged by mortgage brokers that is normally paid for by the lender upon closing a purchase or refinance transaction. This can mean higher up front fees for [you] the consumer....

FHA Mortgage Insurance Increase

On February 14, the FHA announced a new premium for FHA single-family mortgages, increasing the annual mortgage insurance premium (MIP) by a quarter of a percentage point (.25) on all 30-year and 15-year loans.

How will this affect you? [click]

For Home Buyers

Everything you need for Buying a Home FHA

FHA loans allow you to buy a home at very affordable terms. With FHA's low down payment requirements, light qualification guidelines and competitive fixed rates, millions of American's have turned to an FHA loan for their home purchase...

More about FHA loans for buying a home

FHA Refinance

Refinancing With a FHA Loan

If you are thinking about a refinance, an FHA refinance might be the solution. FHA loans offer rates just as low as conventional loans and in many cases are easier to qualify for...