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If you defaulted on and FHA loan in 2004 can you get another FHA loan?
Wiki User
∙ 14y ago
Maybe..maybe not.. FHA has a "Credit Alert System"..this program requires lenders to input your social security number into the "big brother" computer and see if there are any "outstanding" debts owed to the government. If your default balance was paid off when the property was sold then you may be okay..but if you still owe a balance on that mortgage then you will have to settle up with them in order to get a new FHA loan. Good luck....
Wiki User
∙ 14y ago
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Where can you go to obtain a loan threw the FHA?
When you get an FHA loan it is not funded directly through FHA. FHA is essentially an insurer for loan. So the Mortgage Insurance paid on an FHA loan is an insurance policy for the company giving you the actual loan. Most any bank or lender can give you an FHA loan.
How do you convert a conventional loan to an FHA loan?
One cannot directly convert a loan from one type to another. Rather, one must complete a refinance (in this case, without cash out) to move from a conventional loan to an FHA loan.
You already have a fha loan on a mobil home but you want a house loan what do you do to get another loan?
Well this will depend on what kind of FHA program you are insured under for your mobile home. If it is a "Home Loan" under 203(b) program then only under certain circumstances will you be allowed another FHA. BUT if you received a "Dealer" kinda of loan under the FHA program for the mobile home it can be classified as "personal property".......possibly.... If there is land or real estate property involved in the loan then probably not. Only a FHA Lender (underwriter) will be able to determine based on a verification of mortgage or loan from your current mobile home lender.
Can you get a FHA loan on a second home?
Yes you can obtain a FHA Loan on a second home as long as you meet the FHA requirements.
What are the benefits of an FHA home loan?
One of the benefits of an FHA loan is that the payments are the same for the duration of the loan. One can have a low credit score and still be able to obtain an FHA loan.
Where can you go to obtain a loan threw the FHA?
When you get an FHA loan it is not funded directly through FHA. FHA is essentially an insurer for loan. So the Mortgage Insurance paid on an FHA loan is an insurance policy for the company giving you the actual loan. Most any bank or lender can give you an FHA loan.
How do you convert a conventional loan to an FHA loan?
One cannot directly convert a loan from one type to another. Rather, one must complete a refinance (in this case, without cash out) to move from a conventional loan to an FHA loan.
You already have a fha loan on a mobil home but you want a house loan what do you do to get another loan?
Well this will depend on what kind of FHA program you are insured under for your mobile home. If it is a "Home Loan" under 203(b) program then only under certain circumstances will you be allowed another FHA. BUT if you received a "Dealer" kinda of loan under the FHA program for the mobile home it can be classified as "personal property".......possibly.... If there is land or real estate property involved in the loan then probably not. Only a FHA Lender (underwriter) will be able to determine based on a verification of mortgage or loan from your current mobile home lender.
Can you get a FHA loan on a second home?
Yes you can obtain a FHA Loan on a second home as long as you meet the FHA requirements.
What are the benefits of an FHA home loan?
One of the benefits of an FHA loan is that the payments are the same for the duration of the loan. One can have a low credit score and still be able to obtain an FHA loan.
How do I obtain an FHA loan?
Almost anybody can get an FHA loan. There are no income limits the FHA loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration.
Is a FHA loan is a type of financial aid?
False, An FHA loan is NOT a type of financial aid.
What should I look for when applying for FHA loan?
Answering "What should I look for when applying for FHA loan?"
Is FHA mortgage owner occupied?
If you're trying to obtain an FHA loan then the answer is 'yes'. If you own an investment property that has an FHA loan, then you can streamline it.
Is a gse loan a fha loan?
yes
What is the difference between a fha loan and a conventional loan?
An FHA loan has more guidelines and rules than a conventional loan does. An FHA loans are only available on certain houses and you can get a conventional loan on any house if your credit meets the requirements.
How can I FHA refinance my home mortgage loan?
The federal government administers FHA loans. Any information that you desire to learn about refinancing a government FHA loan can be found on the FHA web site.
