What Are The Requirements To Sell A Home Using An FHA Loan?

Home Mortgage Tips , ,
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA's standards. FHA won't insure loans on just any property. While their standards aren't as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing. Location And Lot To qualify for FHA financing, the property has to be located on a road or easement that lets the owner freely enter and exit. The access also has to be paved with a surface that will work all…
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How Can I Get A Cash-Out Refinance Using An FHA Loan?

Home Mortgage Tips , ,
While homeowners typically equate the FHA loan program with low-down payment mortgages, FHA refinances are also available. In addition to easy-to-source rate-and-term and streamline refinances that replace an existing FHA mortgage with a better one, the FHA even offers cash-out refinance loans. A cash-out FHA loan refinance allows the borrower to take out up to 85 percent of the value of his property. In today's market, the ability to pull out 85 percent of a home's equity is attractive, but not as generous as a 96.5 percent FHA purchase mortgage. Nevertheless, while the borrower doesn't get the high leverage of…
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What Are The Requirements To Sell A Home Using An FHA Loan?

Home Mortgage Tips , ,
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA's standards. FHA won't insure loans on just any property. While their standards aren't as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing. Location And Lot To qualify for FHA financing, the property has to be located on a road or easement that lets the owner freely enter and exit. The access also has to be paved with a surface that will work all…
Read More