FHA Buy and Bail Exceptions HUD-4155.1 REV-5, paragraph 1-2 Principal Residences Question 50: If my principal residence is currently covered by an FHA-insured mortgage, can I purchase another principal residence with an FHA-insured mortgage? Answer: Only under the following situations described below: a) Relocation – Relocating to another area not within a reasonable […]
Trulia
Browsing Posts in FHA Loan Programs And Information
Why An FHA Loan Still Makes More Sense Than A Conventional Loan. Here is a question a lot of first time home buyers and even seasoned pros ask. Is an FHA Loan better? Well let’s take a look at the numbers to see if we can figure this out together. It all depends on your […]
The FHA Kiddie Condo Loan Program The FHA “Kiddie Condo” program is really just a regular FHA loan! Here’s what a Department of Housing and Urban Development spokesman in Washington had to say about it: “HUD does not have an FHA “Kiddie Condo” program per se. Nevertheless, as the text from our mortgage credit handbook […]
203K FHA Loan Information GENERAL 1. The 203K FHA loan may be used for the purchase or refinance of one-to-four (single family) residences, including HUD REO properties; Fixed or Adjustable Rate 2. Combines the funds to purchase or refinance (pay off existing liens) along with the funds needed to repair/rehabilitate the property. Repairs are completed […]
