DAPS, or Down payment Assistance Programs, are used to help first-time home buyers with the necessary down payment and closing costs necessary with FHA Loan Programs. There are usually two types of down payment assistance programs: 501c-3 nonprofit organization and Read More …
Category: Lending Guidelines & Requirements
Down Payment Requirements for FHA-insured Home Loans
Usually, FHA loan down payment options are very limited. Usually, the down payment requirement is 3.5% for the down payment. In many cases, the reason why people rent is that they do not have the money to pay for the Read More …
FHA Loan Ratios Explained
Understanding FHA loan ratios are an important part of getting your loan approved for a FHA home loan. There are two ratios that you need to know and understand when it comes to FHA loans. FHA Front-end Ratio The first Read More …
FHA Loan Requirements for Purchase and Refinance
If you do not typically fit the requirements for most home mortgage loans, you may still be eligible for an FHA loan. This program serves to help lower-income people, first-time home buyers, and people with less-than-perfect credit achieve their goal Read More …