RECENT BLOG POSTS
A reader got in touch recently to ask about FHA loan credit requirements and down payment assistance programs. That question includes the following:"...My (FICO) score was about 500 for years till I finally am working with the Lexington Law Firm that Im paying $99 a month that I have 3 negatives ...
12/21/2015
Ever since the FHA and HUD published the new FHA single-family mortgage loan rule book, HUD 4000.1, we've been examining important sections of the rules to see what current FHA mortgage loan policy is; FHA and HUD announced there would be no comparison document outlining the myriad of changes fro...
12/14/2015
Did you know that in certain cases, FHA single-family home loan rules in HUD 4000.1 permit the borrower to add funds to weatherize an existing construction home being purchased with an FHA mortgage? According to HUD 4000.1:"The weatherization product permits the Borrower to finance the cost of el...
12/07/2015
HUD 4000.1 was published earlier in 2015, and contains new, updated, and restated FHA loan policy on single-family mortgages, refinance loans, HECM loans and more.One important section of the new FHA home loan rules for single family mortgages is the part of HUD 4000.1 that discusses maximum mort...
12/06/2015
A reader got in touch with a question in the comments section about FHA loan FICO score requirements, asking, "I have a client that was denied by my lender but has an approval by another. My situation is this.parents are putting $200k down for the purchase. The boys will be qualifying for the $15...
12/04/2015
HUD 4000.1, the new FHA single family home loan rulebook, has specific instructions to participating FHA lenders about the appraisal process.  An appraisal is required as we learn from this line in Part II Section A of the rulebook:"The Mortgagee must order a new appraisal for each Mortgage or r...
11/08/2015
Here is a common type of question about applying for an FHA mortgage loan when you have owe a debt to the federal government:"Can anyone tell me what the guideline for FHA loans regarding payment plan with IRS when you do not own property and you owe taxes? "FHA loan rules here are basically conc...
11/01/2015
HUD 4000.1, the recently published Single Family Home Loan policy rule book, has either reprinted, revised, updated, or restated FHA loan policy for all single family home loan transactions. That's why we're examining some of the most important-to-the-borrower sections of the new rules--bringing ...
10/18/2015
Recently there was FHA/HUD press release issued, announcing action against a Pennsylvania landlord who allegedly discriminated against families with children in his rental practices. The same kinds of violations of the Fair Housing Act can occur when trying to buy a home, and such cases are impor...
10/08/2015
A recent reader question about FHA appraisal requirements on roof issues had us looking up details on those requirements in the new FHA Single Family loan handbook, HUD 4000.1.The previous FHA loan rulebooks including HUD 4155.1 and HUD 4155.2 have been superseded by HUD 4000.1, so it seemed like...
10/04/2015