Can a self-employed borrower qualify for FHA loan?
There has been a forum discussion where a poster has asked if he can qualify for an FHA-insured loan as he is self employed. The loan officer, he talked to, said he would not qualify for the FHA loan...
View ArticleCan you avoid MIP if you have enough equity in home?
A borrower needs to pay mortgage insurance premium (MIP), if he buys home with an FHA mortgage and puts down less than 20% of the purchase price. But is it possible to avoid paying MIP, even though...
View ArticleCondominiums – FHA may relieve mortgage rules
FHA loans were mainly designed to help borrowers get low cost mortgages at easier terms and conditions. However, will time, rules have become excessively strict which has in turn frustrated the...
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FHA vs conventional loans: A comparative review
If you are planning to take out a home mortgage loan, you need to know the difference between different types of loans, particularly the difference between an FHA and a conventional loan. An FHA loan...
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4 Major loopholes of an FHA loan
One very popular loan option available in the country is the FHA loan. This is offered by the private lenders and these are guaranteed by the Federal Housing Administration (FHA). Since these loans are...
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JPMorgan backs away from mortgage lending to risky borrowers after a bitter...
JPMorgan Chase & Co has stopped issuing mortgage to borrowers with poor credit rating. The second largest mortgage lender in the nation is pulling back from offering home loans to risky borrowers...
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Common Mortgage-terms you should aware of being a first-time home-buyer
Buying a new home is one of the most confusing and difficult tasks a person can handle in his entire life. Every person wants to get a perfect living place for his family along with other comforts. And...
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Credit or no credit – Does it even matter at the time of applying for mortgage?
Buying a home is a must for anyone in this country. However, since it is a big financial investment, so sometimes it becomes difficult to buy a home. And, if you have some credit issues, then your...
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