FHA Loans

2022 FHA LOAN LIMITS FOR CALIFORNIA (CA)

2022 FHA Limit For California is $420,680 and goes up to $970,800 for high-cost counties for one-unit properties. 2022 FHA Limit For California for 2-unit properties is $538,650 and goes up to $1,243,050 for high-cost counties. 2022  FHA Mortgage Limits for Alameda County 1 Unit  – $970,800 2 Unit – $1,243,050 3 Unit – $1,502,475 4 Unit – $1,867,275 2022 FHA Mortgage Limits for Alpine County 1 Unit – $463,450 2 Unit – $593,300 3 Unit – $717,150 4 Unit – $891,250 2022 FHA Mortgage Limits for Amador County 1 Unit  – $420,680 2…continue reading →

2022 FHA LOAN LIMITS FOR ARIZONA (AZ)

2022 FHA Loan Limits Arizona is $420,680 and goes up to $441,600 for high-cost counties for one-unit properties. 2022 FHA Loan Limits Arizona for 2-unit properties is $538,650  and goes up to $565,300 for high-cost counties. 2022 FHA Mortgage Loan Limits for Apache County 1 Unit  – $420,680 2 Unit – $538,650 3 Unit – $651,050 4 Unit – $809,150 2022 FHA Mortgage Loan Limits for Cochise County 1 Unit  – $420,680 2 Unit – $538,650 3 Unit – $651,050 4 Unit – $809,150 2022 FHA Mortgage Loan Limits for Coconino County 1 …continue reading →

2022 FHA LOAN LIMITS FOR ALABAMA (AL)

2022 FHA  Loan Limits for Alabama counties is $420,680 and for 2-unit properties is $538,650 See below the list of all 2022 FHA Loan Limits for Alabama counties with 1, 2, 3, and 4 Unit properties. 2022 FHA Mortgage Loan Limits for Autauga County 1  Unit – $420,680 2 Unit – $538,650 3 Unit – $651,050 4 Unit – $809,150 2022 FHA Mortgage Loan Limits for Baldwin County 1  Unit – $420,680 2 Unit – $538,650 3 Unit – $651,050 4 Unit – $809,150 2022 FHA Mortgage Loan Limits for Barbour County 1 …continue reading →

2022 FHA Loan Limits Makes a Big Jump

2022 FHA Loan Limits - both “floor” and “ceiling” loan limits will increase from $356,362 and $822,375 in Calendar Year 2021 to $420,680 and $970,800 in CY 2022, respectively, for a one-unit property. These limits are applicable to loan applications taken between January 1, 2022, to December 31, 2022. Low-cost Area 2022 FHA Loan LimitThe FHA national low-cost area mortgage limits, which are set at 65 percent of the national conforming limit of $647,200 for a one-unit Property, are, by property unit number, as follows:One-unit: $420,680Two-unit: $538,650Three-unit: $651,050Four-unit: $809,150 High-cost Area 2022 FHA…continue reading →

Qualifying for FHA loans with Student Loans is Easier Now

  A recent announcement by Housing and Urban Development (HUD) has made qualifying for FHA loans easier for borrowers with Student Loans. The debt to income ratio plays an important role in qualifying for any mortgage including FHA loans. It's the ratio of your monthly obligation towards debts vs your monthly qualifying income. Before: Earlier student loan payment was calculated as follows: either the greater of 1 percent of the outstanding balance on the loan; or the monthly payment reported on the Borrower’s credit report; or the actual documented payment, provided the payment…continue reading →

H1B Visa Eligible for FHA Loans. See if you Qualify.

H1B visa holders are now eligible for Federal Housing Administration (FHA) loans. For a long time, borrowers with an H1B visa could not qualify for FHA loans. Department of Housing and Urban Development (HUD) recently released new guidelines regarding eligibility requirements for non-permanent resident borrowers. Here are the updated guidelines: A Borrower who is a non-permanent resident may be eligible for FHA-insured financing provided: the Property will be the Borrower’s Principal Residence; the Borrower has a valid SSN, except for those employed by the World Bank, a foreign embassy, or equivalent employer identified…continue reading →

How to Apply for an FHA Loan in 2021? Who can Qualify?

How to apply for and who can qualify for an FHA loan in 2021? FHA loans offer incredible alternatives for first-time homebuyers and existing homeowners. Traditional fixed and adjustable-rate FHA mortgages for homes continue to exist, but special opportunities which include energy-efficient incentives, graduated payments, and reverse mortgages are also available in 2021. While we provide an overview of available FHA loan products and qualification guidelines below, a personalized assessment is the best way to find the loan product that will work best for you and your home-owning situation. Learn about the difference…continue reading →

FHA Streamline Loan Information, Benefits, and Rates

In this post, let's look at FHA Streamline loan information, benefits of getting such a. refinance, current FHA. streamline rates, and the best lenders to work with. for such a refinance. What is FHA Streamline Refinance? Refinancing of a current FHA insured loan into another FHA insured loan is called an FHA Streamline Refinance. The mortgage to be refinanced must be current (not delinquent). Not all FHA to FHA refinances are streamline in nature. Is there a minimum waiting period before which you can do a Streamline Refinance? Even though FHA loans come with…continue reading →

FHA Loan Guidelines, Rules, Limits, and Rates – Ultimate Guide

Find out about requirements (including credit scores), guidelines, rules, rates, loan limits, how to qualify, and how to apply for an FHA Loan. This post is limited to qualifying for FHA loans as a home buyer - First Time or repeat. Click on this link if you are interested in reading about FHA Streamline Refinance. What is an FHA Loan? Federal Housing Administration (FHA) Loans are insured by Housing and Urban Development (HUD) which allows lenders to offer low downpayment loans to homebuyers like you. FHA loans have been helping people become homeowners…continue reading →

Forborne Mortgages Fall Below 4 Million

Not since April end had mortgage forbearance dipped below 4 million. Well, it did just that for the week ending Aug 10, reports Black Knight. On August 3, the mortgage forbearance number was 1,000 over 4 million. This week, it has come down to 3.93 million, representing a fall of 71,000. Forborne conforming mortgages backed by Fannie Mae and Freddie Mac came down by 27,000. It sat at 1.515 million on Aug 10. The drop corresponds to 1.8%. FHA and VA forbearance mortgages saw a dip of roughly 8,000.  According to Black Knight,…continue reading →