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FHA Loans in Colorado: What They Cost, Who Qualifies, and What Most Articles Leave Out If you’ve been reading about FHA loans in Colorado, you’ve probably noticed that most of what’s out there reads like a bullet-point list copied from the FHA handbook. Minimum credit score: 580. Down payment: 3.5%. Great, now what? The problem […]

FHA Jumbo Loans: How They Work, What They Cost, and Who They’re Actually For Most people put FHA jumbo loans into a category that doesn’t exist in their heads. They think FHA means small loans for buyers scraping together a minimum down payment. And they think jumbo means big loans for buyers with excellent credit

For many families, owning a home symbolizes the American dream. Yet, with inflation and escalating interest rates, this dream can feel out of reach for borrowers struggling to secure mortgage financing. Luckily, the Federal Housing Administration (FHA) provides an adjustable-rate mortgage (ARM) – a loan with relaxed financial criteria and a low initial interest rate

What is an FHA mortgage? An FHA mortgage is a government-backed loan insured by the Federal Housing Administration. It’s worth noting that the FHA itself doesn’t provide funds; hence, applicants need to go through an FHA-approved mortgage lender to apply. This mortgage program is favored for its lenient credit and down payment criteria. Despite its

Many first-time or repeat home buyers find FHA loans appealing for their flexible down payment and credit score criteria. Despite making homeownership more affordable, there’s a potential downside. FHA loans come with mortgage insurance premiums that are challenging to cancel, leading to unexpected costs.  This article explores eligibility for removing FHA MIP, outlines the process

On February 22, the U.S. Department of Housing and Urban Development (HUD) revealed a reduction in annual mortgage insurance premiums (MIPs) for specific home loans. This move is set to save FHA loan borrowers an average of $800 annually.  Numerous lenders promptly embraced this change, recognizing its potential to streamline operations and enhance customer experience.

When seeking a mortgage, you might consider an FHA loan for buying a home, especially if you have a lower credit score and a smaller down payment. FHA loans, overseen by the U.S. Department of Housing and Urban Development (HUD), offer mortgage insurance on loans from FHA-approved lenders. These loans are popular among home buyers,

When contemplating buying a mobile home, securing a mortgage can pose more challenges compared to a conventional house purchase. Thankfully, FHA loans offer an avenue to acquire a mobile home. If you’re prepared to proceed with your mobile home purchase, discover the essential details on finalizing your acquisition with an FHA loan. Defining A “Mobile

Successful self-employed individuals demonstrate perseverance and resolve in running profitable ventures. They excel at devising innovative solutions to obstacles. While securing an FHA loan may not be a typical business challenge, it can pose a hurdle for self-employed individuals aspiring to own homes. Acquiring an FHA loan while self-employed is achievable. Although the criteria may

Why Do Sellers Refuse FHA Loans? Unraveling the Mortgage Dilemma Have you ever wondered why sellers refuse FHA loans? FHA does have a few more strict requirements for a loan to be approved using an FHA loan, but knowing what they are will help you avoid them. Keep reading to conquer the FHA loan red