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FHA Loans

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What Is an FHA ARM? 

Are you ready to purchase a home but worry you may not qualify for a mortgage? Have you considered the FHA’s adjustable-rate mortgage (ARM)? The FHA ARM (which is insured by the Federal Housing Administration) may be the loan that makes your home buying dreams a reality. The credit score and down payment requirements for...

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USDA vs. FHA Loans: Understanding the Difference

Buying a home can be an expensive pursuit. Fortunately, there are strategies you can take advantage of to lower your home buying costs.  If you are an aspiring home buyer with a low- to moderate-income, you should explore the different loan options at your disposal. If you’re struggling to qualify for a conventional mortgage because...

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Can You Buy a Foreclosed Home With an FHA Loan?

In the United States, there are many different paths to homeownership. One of the most common ways to buy a home – especially if you can’t make a huge down payment – is with help from the Federal Housing Administration (FHA). Established after the Great Depression, the FHA offers a variety of programs to help...

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Are FHA Loans Assumable?

When you buy a home, the seller transfers the deed to you, making you the proud new owner of a piece of real estate. But did you know that sometimes homeowners can transfer their mortgages to you, too? A transferable mortgage, more commonly known as an assumable mortgage, allows you to buy a home by...

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A Guide to the FHA MIP Refund Chart

Loans originated by the Federal Housing Administration (FHA) are a great option for home buyers, especially first-time home buyers. They offer low-interest rates, relaxed credit requirements, and low down payments.  And there’s another unique benefit. If you refinance your existing FHA loan to another FHA loan, you may qualify for a refund on the upfront...

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FHA Appraisals: What You Can Expect

The Federal Housing Administration (FHA) is tasked with insuring home mortgage loans and making homeownership safer and more accessible while reducing risks for lenders. The FHA’s promise to repay a loan if the borrower defaults provides lenders with a sense of financial security, encouraging them to issue home loans with lower down payments and longer...

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What Are FHA Multifamily Loans?

For some people, one home is enough. After all, a mortgage on a single-family home is a solid way to put a roof over your head and invest for the future.  But what if one home isn’t enough for you? After all, beverages are less expensive if you buy a six-pack instead of a single...

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FHA Down Payments: What’s Required and Getting Help Paying

For some first-time home buyers, it can be hard to put together a down payment for a home. Just consider the following: Home prices are rising faster than ever before. Home prices across the U.S. are rising faster than people’s pay. Americans between the ages of 25 – 49 owe trillions of dollars in student...

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Government Home Loans and More: A MoneyTips Guide for First-Time Borrowers

Buying a home can be challenging, especially if you’re struggling to save enough for a down payment or your credit score is less than ideal. Fortunately, you may be able to clear those hurdles with the help of government home loans. Government-backed loans have helped millions of aspiring home buyers unlock the door to homeownership....

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FHA Loans: Requirements, Limits and Rates

When it comes to saving for a down payment on a home, sometimes it feels like we can’t escape financial pundits telling us to stop buying fancy lattes and cancel our streaming subscriptions. Good advice, but how many decades of fancy caffeinated deprivation will it take to save what you need? Between stagnant wages, student...

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FHA 203(k): The Federal Fixer-Upper Loan

Imagine being this close to calling it quits on your house search – and then it happens. You find THE house AND it’s in your price range. Granted, it’s affordable because it needs some serious repairs, rehab and renovation, but you love it and you’re willing to do what it takes to transform your fixer-upper...

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What Is an FHA Construction Loan: Things to Know

You’re probably looking into FHA construction loans because you’ve just found the perfect piece of land, but it’s missing one crucial detail: a house. Or maybe you’ve been thinking about harnessing your inner Chip and Joanna Gaines, and you’ve finally decided to buy that fixer-upper on the good side of the street. With the right...

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