RECENT BLOG POSTS
The Consumer Financial Protection Bureau (CFPB) is a government agency designed to help consumers and protect their interests against fraud and unfair practices. CFPB issued a statement recently about new federal guidelines that will affect the mortgage lending process, making it easier for borro...
09/27/2015
I get many questions about the difference between FHA loan minimum FICO score and credit requirements and the lender requirements for same. Here's one of the latest examples:"Seems like there is a lot of contradiction between what is on the FHA site and what the FHA Reps. are answering the consum...
09/17/2015
Monday September 14, 2015, the new FHA Single Family Home Loan Policy Handbook takes effect. It's called HUD 4000.1 and is now the reference for all FHA single family home loans.Up to now, certain parts of the handbook have been in effect, while other portions were printed but not effective until...
09/13/2015
FHA appraisals can be tricky to understand, depending on the outcome. For example, we get asked several times a year why an FHA appraiser required corrections on cracked or peeling paint on surfaces in a given home.The question is usually associated with the seeming cosmetic nature of these corre...
08/29/2015
There are a lot of questions asked about FHA loans and how spouses can buy together. Can the FICO scores of one spouse make up for the lower scores of the other borrower? Can one spouse's income offset the lower income of the other? How does state law factor into FHA loan applications when spouse...
08/23/2015
We've written elsewhere about the importance of the borrower's verifiable income when it comes time to fill out an FHA loan application and have the lender review the amount of money coming in versus how much goes out for financial obligations. A borrower's employment income is very important, bu...
08/13/2015
One of the important selling points of an FHA mortgage loan is the basic differences FHA mortgages have from conventional loans; the lower down payment, more forgiving credit requirements, and a rule that a borrower is able to freely dispose of the property in any way he or she sees fit once the ...
07/31/2015
One common topic many borrowers have questions about when they want to apply for FHA loans involves employment history. How long do you have to be on the job with your current employer before you can qualify for an FHA mortgage loan?Believe it or not, FHA loan rules state that there is no minimum...
07/19/2015
Did you know that loan rules found in HUD 4155.2 cover specific aspects of the FHA loan closing procedure including taxes, closing costs, and title issues?Chapter Six of HUD 4155.2 explains these policies. For example, in Chapter Six we learn that the lender is permitted to calculate--and collect...
07/11/2015
Every home loan is different. When you apply for an FHA mortgage, you may experience a variety of circumstances along the way that can affect how simple or difficult it is to get to your closing date.Borrowers who prepare ahead of time, who get pre-purchase counseling, and learn from the mistakes...
07/01/2015
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BruceReichstein

VA / FHA Construction Lending / Nationwide
local_phone281-398-6111
local_phone800-518-0099
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