23 Secrets about the FHA Loan your lender didn't tell you
The FHA Loan continues to be one of the most popular first time home buyer loans and for good reason. Because the FHA offers a low down payment, low interest rates, and flexible underwriting, it's no surprise the FHA Loan is one of the most commonly used.
TimeCards:
0:00 - Intro
0:50 - No Minimum FICO
1:21 - No FICO FHA Loan
1:43 - FHA Loan Mortgage Insurance
2:22 - Other Types of FHA Loan
2:55 - FHA Renovation Loan
3:06 - Two Kinds of FHA Renovation Loans
3:33 - FHA Loan Limits by County
4:05 - No Income Limits
4:19 - More Flexible with Debt To Income
4:56 - FHA Approved Condos
5:18 - FHA Spot Approval for Condos
5:45 - FHA 90 Day Flip Rule
6:07 - 3.5% Down For Multi Unit Homes
6:39 - FHA Streamline Refinance Loan
7:08 - FHA Cash Out Limits
7:26 - How to Have Multiple FHA Loans
7:56 - Getting an FHA Loan after Bankruptcy
8:28 - FHA Student Loan Guidelines
9:19 - FHA Loans are Assumable
9:59 - Pair FHA Loan with Down Payment Assistance
10:27 - Lower Rates than Conventional
11:06 - Avoid Paying off Collections
11:37 - Removing Credit Disputes
12:11 - DACA Recipients are Eligible for FHA Loans
Referenced Links:
203(k) FHA Loan: www.homebridge.com/renovation...
Types of FHA Loan: www.investopedia.com/terms/f/...
FHA Approved Condo List: entp.hud.gov/idapp/html/condl...
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Boring legal stuff:
Licensed by the California Department of Business Oversight NMLS 1410686, a Licensed Representative of American Mortgage Network NMLS 1833427 Equal Opportunity Lender. All thoughts and opinions are my own, not of my company. Any rates, terms, programs, etc. mentioned in these videos are hypothetical and are not an advertisement or promise to lend. Your actual mortgage terms might vary based on qualifications. Always consult a licensed mortgage professional in your area.