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Sellers or other third parties such as real estate agents, builders, developers, etc., or combination of parties can contribute up to 6% of the property's sale price towards the buyers actual closing costs, prepaid expenses, discount points and other customary concessions. These concessions do not count towards the statutory 3.5% down payment requirement.
What else can I help you with?
Can you buy a HUD home with a FHA loan?
Yes, as long as the property meets the condition standards of the FHA loan. The HUD homes are not always in acceptable condition and this makes it difficult to obtain FHA financing because the seller will not allow you to make repairs to the property until after the loan is closed. However, the FHA loan requests that required repairs be made prior to closing.
can an REO SELLER/ BANK charge a buyer "per diem" when the buyer is using an FHA loan ?
Yes, a REO seller can charge a buyer per diem interest when the buyer is using an FHA loan. A per diem fee can be around $150 per day.
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.
Can you get an FHA loan with an LLC?
No, you cannot get an FHA loan with an LLC. FHA loans are only available to individuals, not to businesses like LLCs.
What should I look for when applying for FHA loan?
Answering "What should I look for when applying for FHA loan?"
Can you buy a HUD home with a FHA loan?
Yes, as long as the property meets the condition standards of the FHA loan. The HUD homes are not always in acceptable condition and this makes it difficult to obtain FHA financing because the seller will not allow you to make repairs to the property until after the loan is closed. However, the FHA loan requests that required repairs be made prior to closing.
can an REO SELLER/ BANK charge a buyer "per diem" when the buyer is using an FHA loan ?
Yes, a REO seller can charge a buyer per diem interest when the buyer is using an FHA loan. A per diem fee can be around $150 per day.
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.
Can you get an FHA loan with an LLC?
No, you cannot get an FHA loan with an LLC. FHA loans are only available to individuals, not to businesses like LLCs.
What should I look for when applying for FHA loan?
Answering "What should I look for when applying for FHA loan?"
Is a FHA loan is a type of financial aid?
False, An FHA loan is NOT a type of financial aid.
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.
Do you have to be married to get an FHA loan?
No.
Can a non-borrower be included on the title of an FHA loan?
No, a non-borrower cannot be included on the title of an FHA loan.
