Benefits of a FHA Mortgage Loan
Find an FHA Mortgage Expert Near You
FHA Loan Limits by State
Frequently Asked FHA Questions
FHA does not have a first time home buyer requirement, and does not offer any incentives to borrowers that are first time home buyers.
A FHA loan is often thought of as a first time home buyer loan because the underwriting guidelines can often be much more flexible and forgiving for borrowers without a lot of reserves and lower credit scores.
FHA mortgage insurance has a bad reputation, but I think it's unwarranted.
You cannot remove FHA mortgage insurance without refinancing into a Conventional mortgage loan.
The great advantage of using FHA is that the mortgage insurance is that it's automatically approved with your loan approval, and it's not affected by your credit score like Private Mortgage Insurance is.
With the introduction of FHA's updated underwriting guidelines called the 4000.1, there are now conditions applied to this scenario that were not considered in the past.
If you are relocating and you currently have an FHA mortgage, the new home must be a minimum 100 miles away.
There may be exceptions if you have out grown your current home, and you have more than 25% equity in the home. There may be other circumstances that would allow this, speak to a FHA mortgage expert about your specific scenario.
Find an FHA Mortgage Expert by State
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawai'i
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
New Mexico
New York
North Carolina
North Dakota
South Dakota
Tenessee
Texas
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming