|
FHA Loans
Q: What is an FHA loan?
A: An FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the US Department of Housing and Urban Development. A borrower with a FHA loan pays for mortgage insurance which protects the lender from loss if the borrower defaults on the loan. Because of the insurance generally interest rates are lower and there are more flexible qualification requirements.
Q: How does mortgage insurance work with an FHA loan?
A: Actually two mortgage premiums are required on all FHA loans. The up front 2.25% of the loan amount and the annual premium of .55%. the up front premium is paid when the borrower gets the loan, but it can be financed as part of the loan. the annual premium is paid monthly within the loan.
Q: What is the minimum down payment?
A: The minimum down payment is 3.5%.
Q: Is Sky Financial an FHA approved lender?
A: Yes.
Q: Is there extra cash available for repair when getting an FHA loan?
A: Yes. For instance if a home buyer is purchasing an older home or foreclosure and needs to do renovations and repairs. A 203(k) Rehabilitation Mortgage Insurance Program loan allows borrowers to include cost of repairs within the home financing.
Q: What about less than perfect credit?
A: FHA loans don't have a minimum credit score. A borrower's credit worthiness is considered.
Q: Can a borrower have more than one FHA loan??
A: No. However transactions in which an existing FHA mortgage is paid off and another FHA mortgage is acquired is acceptable.
gucci prada song element oak park devil.wears prada cast prada backpack purse gucci shop online prada slippers women bra outlets prada vegan bag furla handbag outlet gucci com outlet chatgpt access denied怎么解决 outlet stores online clothing followers instagram 5000 cardinal building group tiendas de gucci iron girlz prada thong underwear grey prada doug dunham prada instagram meundies t shirt spiky fruit rambutan plus followers instagram knit prada bag adidasoutlet.com silicone calculator prada sport boots mena knights instagram exact followers prada button prada multipochette williams fried chicken prices gucci brands women's clothing outlets online winthrop red apple prada cap hat prada patent loafer chatgpt install prada bucket hats prada lofer premier gymnastics lutz prada milano wallet prada australia marca prada willams chicken online clothing outlet stores chatgpt architecture gregory west prada saffiano crossbody tamagotchi game prada tennis prada 23ys goatee template printable tomagatchis instagram newest followers instagram followers 2017 saffiano lux prada gilt login places to eat rosemont il monolith prada boots mike and tom eat snacks instagram followers graph prada sweatsuit men's makeup fx instagram 200 followers prada chunky heels instagram 3000 followers travel agent slogan usa outlet online chatgpt open dolce and gabbana spring summer 2015 prada platform oxfords tales of chivalry fallout nike shoe outlet online vinyl siding checklist tiendas de gucci innovative printing solutions prada bags 2020 prada sneakers cheap colored bulletin boards prada swimwear ysl handbags outlet prada svg prada nylon bags brown prada shoes italian restaurants in rosemont like followers instagram printing concepts premium followers instagram prada optical monolith prada boots prada men boots shop prada auto club travel packages williams chicken franchise getting instagram followers chatgpt cto bulletin board walls define chatgpt prada 18wv eyeglasses m nii gap chatgpt marketing dhgate prada loafers gucci mundbind outlet fashion online de prada fajas prada moccasin prada rimless sunglasses harvest sensations kale salad iron girl seattle chatgpt offline blue prada shirt rambutan pit prada clearance large cork board prada bags 2020 paypal instagram followers prada dog clothes prada brown purse iko nordic shingles prada nylon hat 5k instagram followers fajas de prada
FHA Loan Checklist
- Address of residence (past two years)
- Current paycheck stubs and W-2 forms (past two years)
- Past two years of personal tax returns (past two years)
- Social Security numbers
- Names and location of your employers (past two years)
- Gross monthly salary at your current job(s)
- Checking and savings accounts
- Info about open loans you have
- Information for other real estate you own
- Approximate value of all personal property
|
