Are FHA Spot Loans Coming Back?
History of spot loans The Federal Housing Administration (FHA) originated spot loans in 1996. The goal of spot loans was to allow single loans on smaller projects that chose not to get approved with the Federal Housing Administration or did not make changes to their legal documents in order to conform to FHA project approval […]
Best FHA Lender – Maureen Martin
If you’re interested in relocating in San Diego, and your financial possibilities and credit rating don’t allow you to qualify for the home of your choosing, contacting a qualified FHA-approved lender can be the best course of action to take. Considered to be among the most helpful, responsive and efficient FHA-insured loan providers in the […]
How Fast Can An FHA Loan Close?
We’ve Closed FHA Loans in 15 Days Find out how we take action… Methodology Our methodology is simple: we don’t make promises we can’t keep. We provide excellent communication, high-quality service, and impeccable follow through with every client. And we do all of this while still keeping our rates competitive. HomePlus Mortgage focuses on quality…never […]
FHA Changes for 2014
BUYERS To qualify for a home purchase under current mortgage limits, buyers need to get a FHA Case Number Generation before Jan 1st. This requires a fully executed contract, property specific; re-fi will need full applications. SELLERS In order to sell your home within current mortgage limits, you must list your home to get in […]
FHA Expert Tips from Maureen Martin in San Diego, CA
You can obtain an FHA loan for the purchase of a multi-family unit, single-family residence, and condominiums. Restrictions vary by location, so ask your FHA-approved lender for additional information. To protect yourself from predatory lenders, work with FHA-approved lenders only. You can become a victim of loan fraud by giving your personal information to the […]
How to Qualify for an FHA Mortgage
The Federal Housing Administration (FHA) has a loan to help both low- and moderate-income families with purchasing housing. All FHA loans are federally backed, and FHA lenders have been approved by the federal government to service the loans. Requirements Make sure that you meet basic FHA loan requirements. You must be able to meet most, […]
Income Limits on FHA Loans
Lending Limits FHA lending limits vary based on a variety of housing types and the state and county in which the property is located. These are the limits in San Diego County, CA: Single Family $697,500 Duplex $892,950 Tri-plex $1,079,350 Four-plex $1,341,350 Links CLICK HERE to search a different state CLICK HERE to search a […]
FHA Loan Requirements – What You Need To Know
The Federal Housing Administration (FHA) provides mortgage insurance on loans made by FHA-approved lenders. FHA insures these loans on single family and multi-family homes, as well as FHA approved condominiums, in the United States and its territories. FHA insured loans require mortgage insurance to protect lenders against losses that result from defaults on home mortgages. […]
What Does ‘FHA Approved’ Mean?
The Federal Housing Administration (FHA) is a government-backed agency providing mortgage assistance to homebuyers using loan requirements that are lower than those required by independent mortgage outlets. FHA Lenders The FHA requires that lenders and properties be approved by the agency in order to do business under their guidelines. Buyers of condominiums, especially, are restricted […]
Looking For A FHA Lender In San Diego
The FHA loan limits in San Diego for 2013 are the same as in 2012. The maximum loan amount will stay at $697,500. Loan amounts below $417,000 are considered “conforming” and will have slightly lower rates and less stringent guidelines. Loan Limits FHA Loans in San Diego that exceed $417,000 and up to the maximum […]
