It’s a brand-new year, so we thought it was time to take a fresh look at some of the more important FHA loan requirements. Today, we will cover the credit score needed for FHA loan approval in 2018. Some of the information that follows is based on the official HUD handbook for this mortgage program, […]
Florida FHA Limits for 2018: They’ve Gone Up
FHA loan limits for Florida were increased for 2018, in response to rising home values. In fact, the maximum FHA loan amount went up for most counties across the U.S. The table below shows the 2018 FHA loan limits for all counties and metro areas across Florida. These figures were obtained from the Department of […]
California FHA Loan Limits in 2018: All Counties
The max FHA loan limit for California will go up in 2018, due to significant home-price gains that occurred over the last year. California FHA loan limits vary by county, because they are based on median home prices that are also regional in nature. California FHA Loan Limits for 2018 The table below shows the […]
2018 FHA Loan Limits Just Announced: And They Went Up
On December 7, 2017, the Federal Housing Administration (FHA) announced a new set of FHA loan limits for 2018. As we predicted in a previous blog post, the limits are being increased for 2018, due to significant home-price gains that occurred over the last year or so. These maximum loan amounts vary from one county […]
FHA Loan Requirements for 2018: An Update for Borrowers
We’ve been receiving a lot of questions about FHA loan requirements for 2018. Many of our readers want to know if the minimum requirements for an FHA loan are going to change in 2018. Here’s the short answer. We do not expect to see any major changes to the basic FHA loan requirements for borrowers […]
Are FHA Mortgage Rates Better / Lower Than Conventional?
Are FHA mortgage rates lower than those assigned to conventional home loans? This is a common question among borrowers who are thinking about using the Federal Housing Administration’s home loan program. While rates vary from one loan to the next, industry statistics show that FHA mortgage rates are often better / lower than conventional. Report: […]
With an FHA Loan, Can the Seller Pay the Buyer’s Closing Costs?
This blog post is part of an ongoing series in which we answer common questions relating to the FHA mortgage insurance program. Today’s question is: With FHA loans, can the seller pay the buyer’s closing costs? The short answer is yes. The Department of Housing and Urban Development, which manages the FHA loan program, allows […]
Why Would FHA Not Approve a Home for Financing?
This is part of an ongoing series in which we answer common questions about FHA-insured mortgage loans. Today’s question is: Why would the FHA not approve a home for financing, under this program? Why Would the FHA Not Approve a Home? There are several reasons why a home might not be eligible for this mortgage […]
How Are FHA Interest Rates Determined by Lenders?
This is part of an ongoing series of articles that addresses frequently asked questions relating to FHA loans. Today we will answer the following question: How are FHA mortgage rates determined by lenders? Part 1: How FHA Rates Are Determined There are many different factors that can affect the mortgage rates used for both conventional […]
What’s the Lowest and the Average Credit Score for an FHA Loan?
This is part of our ongoing blog series that answers frequently asked FAQ questions. Today’s question is: What is the absolute lowest credit score allowed for an FHA loan in 2017? And what’s the average score for borrowers who use the program? Short answer: According to guidelines from the Department of Housing and Urban Development, the […]