Since the 1930s, the Federal Housing Administration (FHA) has been
helping families become homeowners with a set of loan programs
commonly known as FHA mortgage loans. Despite the longevity and
popularity of these loan programs, many would-
really know all they should about them.
FHA Loans
FHA Mortgage Insurance Program
Programs that help low and moderate income families
become homeowners by
lowering some of the costs of their mortgage loans.
FHA Mortgage Insurance Costs
An FHA loan the borrower will be charged a mortgage
insurance premium equal
to 1.50% of the purchase price of the property and a renewal premium of .500% in subsequent years.
FHA Escrow Refunds
If you have ever paid off a home loan backed by FHA, you may have
money owed to you.
Down Payment Gifts for FHA Loans
FHA allows 100% of the down payment to be a gift
from friends, family or other sources.
FHA Mortgage Closing Costs
Closing costs can also be financed to reduce the up front
cost of buying a home.
FHA Streamline Refinance Loan
A program that reduces the amount of documentation
and underwriting that needs to be performed by the mortgage company.
FHA Single Family Rehab Mortgage -
A single family home rehabilitation
program that enables you to finance both the purchase or refinance of a house and/or
the cost of its rehabilitation through a single mortgage.
FHA Single Family Mortgage Insurance for Outlying Areas -
A single
family mortgage program that provides mortgage insurance for a person to purchase
a principal residence in a rural area.
FHA Adjustable Rate Mortgage
A single family adjustable rate mortgage that provide
mortgage insurance for a person to purchase or refinance a principal residence at
a lower initial interest rate.
FHA Property Improvement Loan Insurance -
A program that makes it easier
for consumers to obtain affordable home improvement loans by insuring loans made
by private lenders to improve properties that meet certain requirements.
FHA Energy Efficient Mortgage
A program that provides mortgage insurance for the
purchase or refinance of a principal residence that incorporates the cost of energy
efficient improvements into the loan.
HUD Reverse Mortgage
A program for homeowners 62 and older who have paid off their
mortgages or have only small mortgage balances remaining. The program allows homeowners
to borrow against the equity in their homes in a lump sum, on a monthly basis for
a fixed term or for as long as they live in the home, or on an occasional basis as
a line of credit.
We represent a FHA approved lender, but are not a government agency.
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