FHA Loan Down Payments: The Complete Guide
August 22, 2022
With an FHA loan, nearly all borrowers will be able to pay as little as 3.5% of the home’s purchase price as a down payment.
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FHA Cash-Out Refinance: Access Your Home Equity
August 11, 2022
Editor’s note: Starting September 1, 2019, HUD, the administrator of FHA loans, reduced the maximum FHA cash-out refinance loan-to-value to 80%, down from 85%. What is an FHA cash-out refinance? […]
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Complete an FHA Streamline Even if You Have a Second Mortgage
August 11, 2022
Some buyers find that they have built equity in the home a few years after buying it using an FHA mortgage. So they take out a home equity loan or […]
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What if the home does not meet FHA Minimum Property Standards (MPS) and selling as-is?
August 11, 2022
What happens when a property is being sold as-is and the seller will not do repairs but the home doesn’t meet FHA minimum property standards (MPS)? How does the buyer […]
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FHA Loans · Home Buying · Understanding Mortgages
Buying a Fixer Upper: What Kinds of Fixer Upper Loans are Available?
August 11, 2022
There are quite a few loan options available to buy fixer-upper homes. “By buying a fixer-upper, you can definitely increase the value of the home as it appreciates and as […]
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Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance
FHA vs Conventional Loan: Which Is Better?
August 11, 2022
Q: I have good credit of about 730. I meet the requirements for both FHA and Conventional 97. I plan to live in the home for 6+ years. Which has […]
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FHA MIP Refund Chart & Guide | 2023 Mortgage Insurance Premiums
July 27, 2022
Home buyers pay an upfront mortgage insurance premium when they close on an FHA loan. This upfront fee — known as UFMIP or MIP — equals 1.75 percent of the […]
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Conventional Loans · FHA Loans · USDA Home Loans · VA Home Loans
Get A Mortgage With Less Than 20% Down
July 25, 2022
Low down payment mortgage options Many home buyers believe they need a 20% downpayment to buy a home. This misconception could stop buyers before they start, and cost them years […]
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Ask Tim · FHA Loans · News · Refinance
Can I Use an FHA Refinance to Remove a Borrower?
July 25, 2022
The FHA streamline refinance allows borrowers to reduce their rate with no pay stubs, no W2s, and no appraisal. But is an FHA streamline possible while simultaneously removing a borrower […]
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FHA 203k Loans: How Does It Work? | Requirements 2023
July 25, 2022
Have you found a home that you love, but it’s in bad shape? The 203k loan may be a perfect way to purchase a home that is a little rough […]
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