The Federal Housing Administration (FHA) insures a wide variety of first mortgages, including fixed rate and ARM products. Down payments are low and gift funds can be used for all costs. Qualifying ratios are generally more liberal than conventional loans. However, mortgage insurance is required and the property being purchased must be owner-occupied.

FHA is a government-backed loan which enables home buyers who meet their standard guide lines to get a home loan. FHA loan guide lines allow home buyers to get into their home with a smaller down payment and higher ratios. For example, a couple who makes $30,000 gross/year would qualify for a $100/mo more payment or approximately $10,000 more of house with an FHA loan as opposed to a conventional loan. That could be the difference between an old fixer upper and your dream home! See similar questions...

We have a 24-hour underwriting standard, and can close loans within a day of approval. Of course, an accurate application, with appropriate client documentation directly influences loan decision and closing speed. It's really under your control. See similar questions...

Answer: No. FHA (Federal Housing Administration) and VA (Veterans Administration) interest rates fluctuate just like conventional mortgages. It's best to shop around. See similar questions...

The Federal Housing Administration (FHA) insures some mortgage loans so that more lenders are willing to make loans to borrowers who might not be able to qualify for other loan types. This is true for borrowers with sketchy credit histories or because of high debt-to income ratios. With a FHA insured loan, a homebuyer can make a down payment of as little as 3 percent. The FHA charges the borrower an upfront mortgage insurance premium fee, plus a monthly charge on all loans. See similar questions...

Federal Housing Administration (FHA) or Veteran's Administration (VA) mortgages are loans insured by the respective governmental agencies. FHA programs enable lenders to arrange financing for the borrower with a minimal down payment. Similarly, VA programs (available to veterans only) can be made to a borrower who has little or no down payment. When borrowing under these programs, you will pay a Mortgage Insurance Premium (FHA) or a Funding Fee (VA) to insure the mortgage. See similar questions...

The Veterans Administration (VA) created a loan program to help military veterans purchase homes. VA loans require no down payment. Veterans, current military personnel and spouses of veterans who died of service-related injuries may apply for VA loans. Certification of eligibility is required. If you choose to apply for a VA loan, please make sure that the person with VA eligibility is listed as the primary borrower. See similar questions...

Answer: No. FHA was designed for first time homebuyers. It makes allowances for lower downpayments, higher ratios to qualify and offers other programs to help make housing more affordable. See similar questions...

Anyone who meets the credit requirements can afford the mortgage payments and cash investment, and who plans to use the mortgaged property as a primary residence may apply for an FHA-insured loan. See similar questions...

Yes. You can assume an existing FHA-insured loan, or, if you are the one deciding to sell, allow a buyer to assume yours. Assuming a loan can be very beneficial, since the process is streamlined and less expensive compared to that for a new loan. Also, assuming a loan can often result in a lower interest rate. The application process consists basically of a credit check and no property appraisal is required. And you must demonstrate that you have enough income to support the mortgage loan. See similar questions...

No. Due to extensive compliance regulations and intense restrictions set forth by HUD, we have decided to eliminate FHA products. However, we have access to aggressive FHA look-alike programs. These programs offer better pricing, more flexible underwriting and substantially higher loan limits than current FHA, all without government restrictions. See similar questions...

The FHA does set limits on the amount you can get on an FHA mortgage loan. These limits are individually set in each county and state within the United States. You can view an itemized list of the limits at HUD. FHA mortgage loan limits are based upon the Fannie Mae/Freddie Mac limits on regular mortgage loans. They are set according to the type of home-single family, plus two, three and four family dwellings. FHA mortgage loan limits may vary between counties. See similar questions...

FHA and VA loans provide purchasers the opportunity to buy homes with minimal cash investment and at lower interest rates. The result is a larger market for sellers, who also benefit by receiving all cash for their equity. There are some fees a seller must pay that aren't required for conventional loans. The fees normally range from $600 to $1,000. See similar questions...

The basics include: A Paper, Alt A, Conforming Conventional , Jumbo, Sub-prime, Hard Money, Private Money, HELOCS, Equity 2nd's, Commercial and Construction. See similar questions...

In most cases you will be able to begin originating loans within a week or two. Top Originators has formed Strategic Relationships with nationwide lenders to help facilitate your start up. Our training system works hand-in-hand with most lenders, and you can literally be set up in a matter of days to originate loans. See similar questions...

The short answer is almost any type of loan. Our training system will teach you how to originate FHA, VA, Conventional, and Sub-prime loans. In practice, it will depend on the mortgage company you create or the company for which you work. See similar questions...