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4 Things I Wish I’d Known Before I Got an FHA Loan

Realtor.com

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded It didn’t stop us from landing our starter home.

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Getting a Home Loan With Low or No Down Payment

Realty Biz

The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%. Their Section 502 Direct Loan Program generally has no down payment requirement to assist low and very low-income borrowers. Down Payment Assistance.

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Forever Home: A First-Timers Guide to Understanding Home Loans

C4D Crew

If you are considering buying your first home and have no or low credit, you may still be able to procure financing. This article will explain five loan programs for first-time buyers. Federal Housing Administration Loan. Currently, those with a credit score of at least 580 can qualify for an FHA loan with as little as 3.5%

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We Answered Your Top 12 Questions About First Time Home Buyer Loans (In Exquisite Detail)

HomeLight

“For the purpose of home loans, a first-time homebuyer is defined as somebody who has not had an ownership interest in a property in the previous three years,” Helali explains. This means that your name can not have been listed on the deed of any house or piece of land for the past three years — whether you’ve lived there or not.

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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores.

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21 Features That Can Negatively Affect Your Home Appraisal

HomeLight

FHA loans require a special appraisal. If the buyer is financing the property with an FHA loan, an official FHA loan appraiser must conduct the appraisal, in accordance with HUD’s designated guidelines. Renovations not built to code. Design and appeal can offset actual age.”

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After mortgage lenders shut down, what’s next for loan originators?

Housing Wire

The right product mix When Finance of America Companies closed its forward mortgage origination unit in October, Steven Reich, a former COO at Finance of America Mortgage , and some branch managers wanted to stick together as a pack. It also underwrites conventional loans and works as a marketing tool for LOs.

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