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Avery Gordon
4 days ago
I'm trying to buy the perfect home for me for about $28,000. The seller's agent does not list this home as a Cash Only sale, but insists that she won't sell it any other way. This home has been listed for 280 days now. Why can't I buy this home with an FHA Loan?
Best Answer:
If you're asking why the seller won't accept any other form of payment, you would need to discuss that with the seller. If you're asking why FHA loan rules would not permit you to arrange the purchase of the property in a way that would... (more)
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Lesley Hudson
14 days ago
I am a permanent resident living in Texas. After 20 years I have no idea where my card is. I can not request a replacement online because I am not a citizen of the USA. I have my number but I am being told by my lender that it is an FHA requirement that they see my actual card. My question is, are they correct ? I have all other documents required and have never ever been asked for my actual card before.
Best Answer:
FHA loan rules in HUD 4000.1 page 131 state: "Each Borrower must provide evidence of their valid SSN to the Mortgagee."

You can apply for a replacement Social Security Card by mail, for free, using the following form from the Social... (more)
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35
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MARILYN FLUCKEY
15 days ago
Can someone qualify for a loan if they have a low credit score?
Can someone qualify for a loan if they have no collateral other then vehicles?
Can someone qualify for a loan if they have no savings accounts?
Can someone qualify if they have credit cards that are all current but one (5 cards)?
Best Answer:
FHA loan minimum credit score requirements are 580 or above for maximum financing, between 500-579 for financing with 10% down. Lender standards may (and often are) higher than these FHA loan minimums. It is strongly advised to be current on ALL... (more)
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Kathy Green
19 days ago
We are trying to purchase a lower priced home (50-60,000) In this hot seller's market we are beat out again and again over the last 3 years. We can pay cash to be more competitive but we can leave our cash in the house?

My husband is in a wheelchair and we need a good deal of that cash to make the necessary changes to needed for him. Can we purchase with our cash, and how soon after can we put a loan on the house to get our cash back out? How much will we be able to pull out? Someone please explain the formula (how the numbers work) and the time frame involved, if that is possible to do.
Best Answer:
FHA loan amounts are calculated based on the sale price of the home or its' appraised value, whichever is lower. In general, FHA forward mortgages do not permit cash back to the borrower except for bona fide refunds for money that was paid up... (more)
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44
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A Curious User
21 days ago
I am still on a mortgage with my ex-spouse, who has resided in the house that we share a mortgage on, and has paid for it solely and on time for the past 6 years. That house and mortgage are also deeded to my ex-spouse in a quitclaim deed in our divorce. With appropriate documentation, can the monthly payment of that mortgage be withheld from my DTI when I apply for an FHA loan for a house of my own?
Best Answer:
The answer depends greatly on the laws of your state, lender standards, and the legal status of your obligation on the original loan at the time you apply. If the lender views the arrangement mentioned in your question as a "contingent... (more)
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Can I bring in my son as FHA co-borrower for our refinance even though he lives in his own house?
Best Answer:
What kind of FHA refinance loan are you considering?
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Linda Schurr
a month ago
I found a home in really good shape that needs an appraisal. It uses a cistern about 3 months out of the year. Does this home still qualify for FHA?
Best Answer:
FHA loan rules in HUD 4000.1 state:

"The Appraiser must report when water to a Property is supplied by dug wells, cisterns or holding tanks used in conjunction with water purchased and hauled to the site. The Appraiser must report whether such... (more)
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85
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Pam Cobb
a month ago
Will the FHA allow a homeowner to have the check made out to them and the tax office, and the homeowner takes the check to the tax office to pay the taxes?
Best Answer:
Can you be more specific? What are you trying to accomplish and with what kind of taxes? Any additional information will be a big help with the answer to your question-thanks!
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I have a lot of student loans but they are in deferment. Do they count against my debt to income? Also is the Nelnet summary/mortgage verification form enough documentation?
Best Answer:
FHA loan rules in HUD 4000.1 state that the lender must have documentation showing the status of your student loan. Furthermore, "Regardless of the payment status, the Mortgagee must use either:
the greater of:
- 1 percent of the outstanding... (more)
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63
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William Ogee
a month ago
I am refinancing my home for $91,000.00 it appraised for $280,000.00. Do I have to have PMI?
Best Answer:
What kind of loan are you applying for? FHA? Conventional? VA?
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