Loan
Is A Graduated Payment FHA Mortgage For You?
Do you know that your income will increase in the future? If you are like many people with steady career growth and income increases you may qualify for the FHA Section 245 loan program. This program allows an individual or family to purchase a home based future rising incomes while paying smaller mortgage [...]
Eligibility for the FHA Section 245 Loan
The FHA Section 245 loan program is available to first-time or repeat homebuyers. Applicants must meet all FHA eligibility requirements. With the umbrella of the FHA insured Section 245 mortgage, lenders can grant loans to individuals or families who may not otherwise qualify for conventional loans or other FHA insured loans.
Also, with a [...]
FHA loans and the American Housing Rescue and Foreclosure Prevention Act
If you are wondering how the new American Housing Rescue and Foreclosure Prevention Act can help you then you should know the requirements to use the new refinancing programs that are available.
Here is a list of the new requirements for people who want to use the FHA to refinance their home loan:
• [...]
Increased Upfront Insurance Premiums on FHA Loans
The Federal Housing Administration has decided to increase the premiums they charge for insuring mortgage home loans. Since the sub-prime fallout the FHA has been taken on more and more home loans. To cover their increased risk the FHA is increasing the premium charged upfront on loans from 1.5% to 1.75% of the [...]
Energy Efficient Mortgages
In 1992 the FHA piloted an Energy Efficient Mortgage program in five states. The pilot was so successful that in 1995 the program was expanded to the entire nation. The basis of the Energy Efficient Mortgage is that a home buyer can afford a higher mortgage with lower utility expenses.
FHA’s Energy Efficient Mortgage Program insures [...]
