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In regards the the Reverse Mortgage, or Senior Reverse Mortgage, all you need to qualify is for the house to be appraised by a HUD / FHA approved appraiser. You are then eligible to receive a reverse mortgage, so long as you have enough equity in the home, and you are age 62 pr older.
In many states, the Reverse Mortgage or HECM (Home Equity Conversion Mortgage) allows for a new home purchase with the use of reverse mortgage funds, this rule does not apply nationwide. Although HUD and the FHA recently passed the HECM Reverse Mortgage home purchase program, allowing you to purchase a new home with reverse mortgage proceeds, borrowers in Texas are not yet eligible. Rules in individual states may vary. Please see a specialist in your own state for more details.
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Where do funds for FHA loans come from?
From any FHA approved lender
Can you do a reverse mortgage on a townhome?
You can, if the town home is in an approved FHA complex it makes it much easier. If it is not then you have to apply for a spot approval which is asking for an exception to the requirement that the HOA or complex be FHA approved based on the merits of your particular property.
Where can you find a first time home buyer grant with a pre approved fha loan?
Check out: www.hud.gov find your local FHA office and see what type of grants or downpayment assistance programs there are in your area. Also your approving FHA lender should know.
How do you get condo development FHA approved?
Your local FHA office can provide you with the details regarding the process required to obtain FHA approval for loans to buy units in the development.
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.
Where can one find information on FHA home loan refinance?
You can find information on a FHA home loan refinance online at the FHA website. Once on the site, you can view the requirements and limits of FHA home loans.
What does the acronym fha gov stand for?
FHA Gov stands for Federal Housing Administration. It provides mortgage insurance on loans made by FHA-approved lenders for single family and multifamily homes.
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.
What are the requirements to qualify for an FHA home loan?
"Requirements for an FHA home loan vary depending on what kind of loan you are applying for. If you are applying for a re-structuring loan, you need to own a home. If you are applying for a first mortgage, you need good credit, a deposit and a social security number."
Can someone get a pre-approved home loan with a credit score of 687?
In most cases yes...FHA, VA (if you qualify) and conventional loans should have no problem with that credit score...
Where can someone get a 203k loan?
"A person can apply for and be approved for a 203k loan at many national banks. Among these banks is WellsFargo, Citibank, Lending Tree, and FHA home loans."
Where can one find information about FHA home refinancing?
One can find information about FHA home refinancing by going directly to the FHA home refinancing website. There is contact information and other categories to peruse to find the information needed.
