how long does it take for FHA to process mortgage loan info after the appraisel is done? Typically FHA does not approve loans directly to the public. You can find FHA financing at most banks, savings & loans, or other mortgage lending institutions. Once the file has been fully processed the lenders direct endorsement underwritier [...]

A conventional mortgage is when you borrow the mortgage money from a lending institution, and they loan you their own money. A conventional mortgage usually requires a 20% down payment. An FHA mortgage is when you borrow the mortgage money from a lending institution, and they loan you their own money. The difference is that [...]

Considering minimum 3.5% down, closing, taxes, and all others. Also including what banks expect you to have in the bank for emergencies I would figure an extra 3% for all the additional closing costs. However, those are negotiable with the seller – you can arrange for the seller to pay most of the closing costs [...]

i just lost my job and i was wondering if fha mortgage insurance would pay my mortgage for a period of time like the Rainy day fund does for private lenders who are enrolled in the program No, Ryan, not at all. FHA mortgage insurance is for the lender. Should you default on your mortgage, [...]

I want to buy a property using fha with 3 or 4 units where I will live in 1 and rent the others. Somewhere I was told 3.5%. But then someone else said it is 15% down for a building with 3 or 4 units. Does anyone know which is correct? As long as you [...]

Someone told me that the banks determine the minimum credit score and therefore many banks require 620 and some take a 580 like Bank of America. Does someone truly know what the deal is with this? Credit and mortgages can be a very difficult issue for many people. In fact, every situation is different and [...]

has anyone recently refinanced their 30 yr mortgage? Please let me know which bank helped you out the most. I’m currently with Countrywide but need to lower payments. I’m still ontime though. your best bet is to work with a mortgage banker/broker. We have 30+ lenders to work with which gives you more options. addthis_url [...]

If no, does it go up and down, and what causes it. Looking at 30 year fixed. What’s your opinion on what they’ll be like this May. Yes the FHA rates will ride the roller coaster just as the conventional loans will. No one can tell what the rates will look like in May…barring any [...]

He will be the one occupying the home. I would need to use both my credit and income. no addthis_url = ‘http%3A%2F%2Fwww.ucufutsal.com%2Ffha-mortgage%2Fcan-i-cosign-an-fha-mortgage-for-my-brother-if-i-already-have-one’; addthis_title = ‘Can+I+cosign+an+FHA+mortgage+for+my+brother+if+I+already+have+one%3F’; addthis_pub = ”;

I seem to remeber something about having to keep the home in your possesion for so long before you can sell for a profit. I am just trying to find out how long that is. Getting an FHA loan on a house isn’t so much about commiting to live there for a time frame, it’s [...]