8 FHA Loan Facts

FHA loans are popular with mortgage borrowers and brokers but why? First, FHA loans offer borrowers lower down payments and have less stringent requirements to be qualified. FHA loans are insured by the Federal Housing Administration (FHA). Borrowers are able to get FHA loans by paying for a mortgage insurance that protects lenders in case…

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FAQs

FHA LOANS – FAQ’s Can the seller pay my closing costs? Yes. The seller can pay up to 6% of your recurring & non-recurring closings costs. What is the FHA up front mortgage insurance premium (UFMIP) for? HUD requires two mortgage insurance policies on FHA loans to protect against losses in the event of a…

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