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News and Program Updates: FHA Loans

The Difference Between FHA and FHA 203k Loans

The Difference Between FHA and FHA 203k Loans

[ 0 ] April 30, 2013

The Federal Housing Authority (FHA) has been in the news a lot over the last few years thanks to their increase in mortgage activity. More people are flocking to the FHA type of mortgage in order to purchase a home or refinance an existing loan down to a better interest rate. There has also been quite a bit of buzz about the FHA 203k. Besides the little numbers 203, what is the difference between these two loans?

Making the Closing on an FHA Purchase as Easy as Possible

Making the Closing on an FHA Purchase as Easy as Possible

[ 0 ] April 11, 2012

Getting approved for an FHA mortgage to purchase a home is a THRILL! You want that excitement to continue through the closing and up to the move-in day. Here are some tips to make the closing a smooth transition.

First Time Home Buyers Utilize FHA Loans with Low Mortgage Rates

First Time Home Buyers Utilize FHA Loans with Low Mortgage Rates

[ 0 ] September 30, 2011

For first time home buyers buying a home, you will still face the same old question; how to save up for the down payment amount. Even with the housing bust of the past few years that have seen home prices drop in most every area across the country, 5% to 10% of an average home price is still a major obstacle for many people. That is why the FHA mortgage has become even more popular in recent years.

When an FHA Loan Makes More Sense than a Conventional Loan

When an FHA Loan Makes More Sense than a Conventional Loan

[ 0 ] September 13, 2011

With the extremely low mortgage rates that are so common in real estate right now it would seem that any approved loan is a good loan. However, it still pays to compare offers and make sure you have all of the figures before making a decision. An FHA loan is a good loan for many people, provided that certain conditions are met.

What Are the Differences Between Full and Streamline 203k?

What Are the Differences Between Full and Streamline 203k?

[ 0 ] April 14, 2011

Quite a bit of information has come out lately about the FHA 203k Streamline loan. Since the name implies that there is a different version, one that is not streamline, then it makes sense that people would like to know the differences between the two loans. Here is a brief rundown of the differences. Most of them are explained from the view point of the Streamline version.

FHA 203k Loans for Fixer Upper Homes

FHA 203k Loans for Fixer Upper Homes

[ 1 ] December 13, 2010

The 203k program will grant people a loan to purchase a property and make improvements to it at the same time. The money that is necessary for the purchase is given to the seller and they go along on their merry way. The money needed for the rehabilitation of the property is put into escrow while a licensed contractor performs the work. Once the work is completed and passes inspection the funds are released to the contractor.

Why FHA Home Loans Are Great for First Time Home Buyers

Why FHA Home Loans Are Great for First Time Home Buyers

[ 1 ] October 1, 2010

First time home buyers are often faced with lots of information and decisions. Where to live, what type of home, how big of a home, new versus old are all things that can take considerable time to decide. One choice that is easy is the type of loan to use for the first home purchase: the FHA loan. Here are some of the reasons why the FHA loan works so well.