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Rosegudy, Home Buyer in Dallas, TX
Rosegudy answered:
Is the FHA funding fee considered a closing cost? If it is I would like to use the sellers credit to pay for it instead of adding it to the loan.
The FHA Funding Fee is the upfront cost and monthly premium you pay when you get a mortgage guaranteed by the Federal Housing Administration (FHA). The upfront fee, also called the upfr ... more
0 votes Share Flag A moment ago Financing in Orange
Piperclara, Home Buyer in Fort Worth, TX
Piperclara answered:
Can we qualify for an FHA loan on a 2nd home if we rent out our first home? We do not have any equity in our first house. Our credit scores are 800
"You can only have FHA loan at a time. Are you planning on renting this ""second home"" out or are you simply buying another property as a vacation home? http://fhamortgageinfo.com/sec ... more
0 votes Share Flag A moment ago Home Buying in Tampa
Piperclara, Home Buyer in Fort Worth, TX
Piperclara answered:
Can I use FHA financing to purchurse a second home?
When you signed your first FHA mortgage loan documents, a Deed of Trust was included. When you signed your Deed of Trust for your FHA loan, you agreed to live in the home as your Primar ... more
0 votes Share Flag A moment ago Financing in Canton
Kellytimmi, Home Buyer in Elk Grove Village, IL
Kellytimmi answered:
can you purchase a foreclosed home with an FHA loan?
The average time frame for completion of the foreclosure process varies by lender and state foreclosure laws. Pre-foreclosure can begin in as few as three months of missed payments, can ... more
0 votes Share Flag A moment ago Home Buying
Piperclara, Home Buyer in Fort Worth, TX
Piperclara answered:
can i get a silent second on my fha loan i dont have a down what are the risks?
There are a few scenarios that woud qualify you for a second FHA home: If you have had a change of job location and the new home would be your primary residence and it is closer to your ... more
0 votes Share Flag A moment ago Home Buying in Rancho Cordova
Kellytimmi, Home Buyer in Elk Grove Village, IL
Kellytimmi answered:
When does the 3 year (FHA Loan) waiting period start for buying a home after foreclosure?
Major derogatory events include foreclosure, short sale, and Chapter 7 bankruptcy. The mandatory waiting period of each of the aforementioned events are as follows, assuming credit has ... more
0 votes Share Flag A moment ago Foreclosure
Kellytimmi, Home Buyer in Elk Grove Village, IL
Kellytimmi answered:
Can I purchase an HUD home using a conventional loan?
Here are the different types of special financing you can receive when purchasing a HUD home as your primary residence:

$100 Down Program – You can purchase a HUD Home with only $1 ... more
0 votes Share Flag A few minutes ago Using Trulia in Chicago
Kellytimmi, Home Buyer in Elk Grove Village, IL
Kellytimmi answered:
what are the qualifications to buy a hud home. How much $ down on average?
Here are the different types of special financing you can receive when purchasing a HUD home as your primary residence:

$100 Down Program – You can purchase a HUD Home with only $1 ... more
0 votes Share Flag A few minutes ago Home Buying in Hermiston
Piperclara, Home Buyer in Fort Worth, TX
Piperclara answered:
FHA 5/1 ARM or FHA 30 year fixed?
"FHA offers 30 year amortizing mortgages in which the interest rate is adjusted periodically based on a preselected index and margin. Often, these loans provide low starting rates that ... more
0 votes Share Flag A few minutes ago Home Buying in San Jose
Rosejains, Home Buyer in Brooklyn, NY
Rosejains answered:
Can an FHA loan be used when purchasing a Foreclosure?
FHA-insured mortgages go into foreclosure every day. Mortgages with insured loans from the Federal Housing Administration (FHA) that go into foreclosure represent unlimited opportunity ... more
0 votes Share Flag A few minutes ago Home Buying in Mountainside
Rosejains, Home Buyer in Brooklyn, NY
Rosejains answered:
FHA loan for an auction property
FHA-insured mortgages go into foreclosure every day. Mortgages with insured loans from the Federal Housing Administration (FHA) that go into foreclosure represent unlimited opportunity ... more
0 votes Share Flag A few minutes ago Foreclosure in Pittsburg
Rosejains, Home Buyer in Brooklyn, NY
Rosejains answered:
I am currently looking for a FHA approved Condo in Manhattan. I am a veteran and will be using the VA Loan.. need an approved bldg list please help!
The complete list of FHA approved condos in New York can be accessed from FHA condo search page. FHA Approved Condos will be considered FHA approved if it is on the FHA approved list.
... more
0 votes Share Flag A few minutes ago Financing in New York
Rosejains, Home Buyer in Brooklyn, NY
Rosejains answered:
i put 20% down on an fha loan, why do i have to still pay pmi?
In January 2009, the minimum down payment for an FHA mortgage was changed from 3 percent to 3.5 percent. In early 2010, an added level of down payment requirement was established for pr ... more
0 votes Share Flag A few minutes ago Home Buying in 95391
Clarabellae, Home Buyer in South Miami, FL
Clarabellae answered:
Can you buy a short sale home with an FHA loan? What is a short sale process? Thank you!
The HUD Preforeclosure Sale (PFS) Program allows the defaulted Borrower to sell his/her home and use the Net Sale Proceeds to satisfy the mortgage debt even though the Proceeds are less ... more
0 votes Share Flag A few minutes ago Home Buying in Santa Clara County
Clarabellae, Home Buyer in South Miami, FL
Clarabellae answered:
Can a buyer using a fha loan buy a short sale?
Short sales often require substantial home improvements because of deferred maintenance, abandonment or vandalism by the financially distressed home owner. FHA offers the 203(k) Rehabil ... more
0 votes Share Flag A few minutes ago Home Buying
Pamelajain, Home Buyer in Dallas, TX
Pamelajain answered:
FHA 3.5% vs Conventional loan w/ 3% down payment
In January 2009, the minimum down payment for an FHA mortgage was changed from 3 percent to 3.5 percent. In early 2010, an added level of down payment requirement was established for pr ... more
0 votes Share Flag A few minutes ago Home Buying in 30306
Clarabellae, Home Buyer in South Miami, FL
Clarabellae answered:
does a seller have to sign an FHA amendatory clause?
Well of course you are not required to sign anything that you don't want to sign. However if you don't sign it the borrower cannot buy your property with an FHA loan. You are correct ... more
0 votes Share Flag A few minutes ago Home Selling in Oregon
Pamelajain, Home Buyer in Dallas, TX
Pamelajain answered:
FHA loan with 3% down payment. So why do will still need to come up with a PMI (20% down payment)?
In January 2009, the minimum down payment for an FHA mortgage was changed from 3 percent to 3.5 percent. In early 2010, an added level of down payment requirement was established for pr ... more
0 votes Share Flag A few minutes ago Home Buying in Woodland Hills
Pamelajain, Home Buyer in Dallas, TX
Pamelajain answered:
How large a downpayment do you need for an FHA loan?
Determining your required down payment amount is a key component in the home buying process. The Federal Housing Administration was created to help middle- to lower-income buyers secure ... more
0 votes Share Flag A few minutes ago Financing in Charlotte
Clarabellae, Home Buyer in South Miami, FL
Clarabellae answered:
What does the wording of this mean? FHA/VA amendatory clause
Buyers, sellers, listing agent, and selling agent. All original signatures on the same form...you can't fax it around. HUD wants original signatures from all parties.

Web Reference: ... more
0 votes Share Flag A few minutes ago Home Buying in 08610
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