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FHA Document Checklist and Documentation Requirements

December 2, 2014April 19, 2022 Brandon Cornett

Do you plan to use an FHA loan to buy a house in 2019? If so, you should be prepared to supply a mountain of financial paperwork. It’s a necessary step in the application, underwriting and approval process. Below, we have provided a checklist of FHA documents to help you understand the documentation requirements for […]

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How Much of an FHA Loan Can I Qualify for and Afford?

November 28, 2014May 27, 2022 Brandon Cornett

We receive a lot of questions from readers that fall into the “how much” category. Some of the most frequently asked questions in this area include: How much house can I afford with an FHA loan? How much of a mortgage loan can I qualify for? How much money do you have to make to […]

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Am I Qualified for an FHA Insured Home Loan in 2015?

November 23, 2014August 30, 2015 Brandon Cornett

Reader question: “I have heard that FHA home loans are perfect for home buyers who don’t have a big down payment saved up, which is the situation I am in. Is this true? Secondly, how can I find out if I’m qualified for an FHA loan in 2015? What are mortgage lenders looking for these […]

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The First 3 Steps to Buying a Home With an FHA Loan

November 19, 2014September 1, 2022 Brandon Cornett

Countless articles have been written about the steps to buying a home with an FHA loan. While many of them do a good job covering the basic steps in the purchasing process, they often start too far into the process. They skip the preliminary steps that occur (or should occur) before you even submit a […]

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Process concept

The FHA Approval Process: 5 Steps to Getting Your Loan Approved

November 6, 2014April 12, 2022 Brandon Cornett

Are you planning to use an FHA-insured home loan to buy a house? If so, you probably have questions about the FHA approval process, and what it takes to get approved these days. This tutorial breaks the entire process down into five key stages. While the individual steps can (and usually do) vary from one […]

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credit magnifying glass

Can I Get an FHA Loan With a Credit Score of 580, 600, 650?

October 23, 2014April 12, 2022 Brandon Cornett

It’s one of the most common questions we get from our readers: “Can I qualify for an FHA loan with a credit score of 580, 600, 650, 680 or … [fill in the blank]?” Unfortunately, this is not a yes-or-no question. The Department of Housing and Urban Development (HUD) has some specific guidelines for borrower […]

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FHA Appraisal Was Below Purchase Price: What Should I Do?

October 21, 2014May 12, 2021 Brandon Cornett

Question: “We made an offer to buy a house with an FHA loan. A few days later, our mortgage lender sent an appraiser to figure out how much the home is worth. The FHA appraisal was below the purchase price amount we have agreed to pay. About 20K below, actually. Now our lender says they […]

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Rates rising

How an FHA Adjustable-Rate Mortgage (ARM) Works, and When to Use It

October 16, 2014October 24, 2015 Brandon Cornett

FHA-insured home loans are available with both fixed and adjustable interest rates. There are certain pros and cons associated with each type. The article explains how an FHA adjustable-rate mortgage (ARM) loan works, and when it might make sense to use one. Most home buyers who use ARM loans do it to save money during […]

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Problem Solutions

3 Common FHA Loan Problems, and How You Can Avoid Them

October 15, 2014October 24, 2015 Brandon Cornett

Some FHA borrowers sail through the mortgage lending process with no issues whatsoever. If you’re lucky, you’ll be one of them. Other borrowers encounter FHA loan problems that can delay the closing process or, at worst, derail it entirely. Awareness is the first step to avoiding such problems. By understanding what can go wrong during […]

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Purchase offer with key

How to Make an FHA Offer to Purchase a Home

October 9, 2014May 15, 2022 Brandon Cornett

Reader question: “We are using an FHA loan to buy a house, and I have some questions about the offer process. Is it any different when using this type of mortgage program? How do we make an FHA offer to purchase a home? Lastly, how do we decide a fair amount? Do we just take […]

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