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Tag Archive | "FHA loans"

FHA Basics: Government Insured Home Loans

How The FHA Built A Nation Of Homeowners If it were not for the Federal Housing Administration (FHA) insured home loan, the United States would be a very different country in which to live. The FHA has been insuring home loans since 1934. Millions of homes have been bought by people who could only do […]

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IMN Loan Programs: FHA 203k Mortgages for Distressed Homes

The FHA 203k loan program is an ideal platform to receive mortgages for distressed homes. If you have a new home in mind, but it requires a great deal of renovation, a 203k mortgage would be ideal for you. First, let’s discuss what the term means, and then how it would help you to save […]

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Gift Letters: What is a Mortgage Gift Letter?

Gift letters involve the provision of money to borrowers to enable them to make a down payment. A gift letter is generally referred to in terms of a mortgage. If you are buying a home, but lack the cash to make the required down payment, then a gift letter can be used to legally offer […]

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HUD Homes and FHA Loans for Adverse Credit Mortgages

HUD homes and FHA loans can be used to enable those with low FICO scores to get adverse credit mortgages. The Department of Housing and Urban Development (HUD) offers insurance on mortgages, and when a homeowner with such insurance is unable to maintain the mortgage repayments, the lender forecloses and HUD pays the balance due. […]

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How Much Money Do You Need to Buy a Home?

One of the biggest concerns of first time home buyers when they’re looking at getting their first mortgage is just how much money they’re going to require. Qualifying for a mortgage is the first step in the process, but it is important to understand if you will need cash for your purchase and if so, […]

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