Tempted by foreclosure or "as is" listings but wonder how you can afford to make them livable? FHA's streamlined 203(k) mortgage is your answer.
FHA Loans Articles
Starting Sept. 7, 2010, underwater homeowners have a new option for refinancing their mortgages. The question is, how many will be able to take advantage of it?
Details of a new program designed to help underwater homeowners refinance into an FHA mortgage have been released by the U.S. Department of Housing and Urban Development.
To encourage the resale of foreclosed properties, the Department of Housing and Urban Development (HUD) is temporarily easing a restriction on the type of properties that can be bought with an FHA mortgage.
Wishing you could buy a home but lack the money for a down payment? Or does bad credit prevent you from qualifying for a mortgage in the current tight lending environment? An FHA mortgage could be just the ticket for you.
Until now, financially pressed homeowners with an FHA-backed mortgage couldn't obtain a loan modification under the generous terms of the government's Making Home Affordable Program (MHA). But that's about to change.
Older homes can offer some great bargains, but they often require a fair amount of work to make them livable. Fortunately, there's an FHA loan program - the 203k rehab loan - that enables home buyers to roll the purchase price and estimated cost of repairs into a single mortgage right up front.
As rampant inflation gradually gets squeezed out of home prices, many first-time homebuyers are finally able to afford a house. Lower rates on purchase mortgages-including popular FHA mortgage products-also make it easier for new homebuyers to take the ownership plunge.