| Check out our list of common questions related to FHA mortgages.
What is the FHA?
- FHA stands for the Federal Housing Administration. It was created in 1934 to help Americans get into homes.
What makes a FHA insured mortgage beneficial?
- An FHA insured mortgage is easy to qualify for, can be obtained with less than perfect credit and requires a smaller down-payment of 3.50%.
Where can I find FHA forms and other literature?
What is the FHA loan limit in my area?
- The loan limit across the country are different. In Clark County the current maximum FHA loan limit is $400,000.
- Click here to see limits in your area.
Can I pay an FHA loan off early?
- Yes, FHA loans do not have pre-payment penalties.
Is there a FHA program to help me refinance my loan?
- Yes, the recently create FHASecure is one of the ways that we can help you refinance your current home loan. Contact us now to see what we can do for you.
Can I refinance a fixed rate FHA loan?
- Yes. Talk with one of our professionals today to see if refinancing makes sense for you.
What is the recommended debt-to-income ratio for FHA loans?
- The recommended debt-to-income ratio for a FHA loan is 30%.
Are FHA loans assumable?
- Absolutely, you can assume an existing FHA loan or allow a buyer to assume yours.
Will I have to pay mortgage insurance with an FHA loan?
- Yes, in fact FHA mortgages often require you to carry mortgage insurance for longer than most conventional loans.
Can I get a "fixer-upper" of a home with a FHA mortgage?
- Yes, however you might be required to fix certain problems in the home before you can get the full loan. Speak with us today for details on this.
|
 |
