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FHA Home Loans are quickly becoming the best First Time Home Buyer Home Loan program available.  FHA Mortgages offer low Mortgage Rates for home purchase or refinance.  FHA First Time Home Buyers can also take advantage of the $8000 First Time Home Buyer Tax Credit currently offered for anyone who hasn't owned a home for the past 3 years.  If you currently have an FHA Home Loan, you can take advantage of the fast and easy FHA Streamline Refinance Loan to lower your payment today.


FHA LOANS FOR THE SELF-EMPLOYED

JUNE, 2009



Are you self-employed and wondering if you can qualify for an FHA Mortgage?
 
You probably can if you fit within a few simple guidelines.  Here is a summary of what a lender will look at:
 
Business has been in existence for at least 2 years
 
The first rule of thumb is that your business need to have been in existence for at least 2 years.  This means that if you have an ...

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June 25, 2009 11:51

:: FHA Guidelines :: comments (0) ::

EXTENUATING CIRCUMSTANCES



If you are seeking an approval on an FHA Mortgage and have had a bankruptcy within the past 2 years or a foreclosure within the past 3 years, you may have heard the term "extenuating circumstance."  What does this mean?
 
Normal FHA Guidelines require that 24 months pass after a bankruptcy discharge before you can get approved for an FHA Mortgage.  The rule is 36 months for a foreclosure. 
 
However, if you ...

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June 06, 2009 6:26

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MORTGAGE RATES RISING



Mortgage rates have climbed to the highest level we have seen since last fall. 
 
Although still very low historically, people have gotten used to rates at 5% or even lower.  Currently, rates sit in the mid-5%'s and it appears to be unlikely they will dip back down again to where they were.
 
The rise in rates seems to mainly be tied to the fact that there is too much supply of bonds in ...

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June 05, 2009 4:48

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MORTGAGE LATES AND FHA REFINANCING

MAY, 2009



Someone asks me this question every day:  Can I qualify for an FHA refinance if I have been late on my mortgage? 
 
The answer is "yes and no."
 
The determining factor is (1) what kind of FHA refinance you are doing and (2) how long ago you were late on the mortgage.
 
If you are looking at an FHA Streamline Refinance, you cannot have any late payments on your credit history ...

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May 29, 2009 10:44

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FHA RATES STAY LOW



FHA Home Loan Rates are staying at low levels we haven't seen for decades.  Many people are taking advantage of the Low FHA Mortgage Rates for the FHA Refinance Loan or FHA Home Purchase Loan.  At the time of this post, FHA Streamline Refinances can be done at 5% on a 30 year fixed rate mortgage with minimal closing costs and points.

May 19, 2009 14:02

:: FHA Program News :: comments (0) ::

NEW DOWN PAYMENT ASSISTANCE OPTION



The government announced this week that they plan to make the $8000 First Time Homebuyer Tax Credit available at the table to use as a down payment.
 
That means that you can buy a home for up to $225,000 with your FHA Home Loan Financing with Low FHA Mortgage Rates, and the government will subsidize your down payment!
 
Please visit our $8000 First Time Homebuyer Tax Credit page for more details!

May 16, 2009 9:11

:: FHA Program News :: comments (0) ::

FHA CASH OUT REFINANCE- NEW APPRAISAL RULES



Are you considering an FHA Cash Out Refinance Loan on your home?  If so, you must be aware of new FHA Appraisal Guidelines that have gone into effect.
 
If you use an FHA Cash Out Refinance Loan on your FHA Refinance, then you will have to obtain two appraisals if you borrow more than 85% of the value of the home.  We can help you with the process of ordering the appraisals, but it is ...

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May 08, 2009 8:44

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WANTED: GUEST AUTHORS



FHA Home Loan Help is currently seeking guest authors to write FHA and Real Estate related posts on this blog.  We are interested in professionals in the following fields:  Real Estate Agents, Financial Planners, Home Inspectors, Credit Repair Experts, Real Estate Attorneys, Appraisers, Title Company Reps, or any other FHa or Real Estate related field.
 
Increase your exposure and backlinks to your website.  You will receive a prominent link to your website on the ...

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May 07, 2009 8:19

:: FHA Program News :: comments (0) ::


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Recent entries

 FHA Loans for the Self-Employed

June 25, 2009


 Extenuating Circumstances

June 06, 2009


 Mortgage Rates Rising

June 05, 2009


 Mortgage Lates and FHA Refinancing

May 29, 2009


 FHA Rates Stay Low

May 19, 2009



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  FHA Program News (12)

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