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The benefits of a Federal Housing Adminstration (FHA) loan are the following: it is easier to qualify for a mortgage, it is insured against default by the FHA, they allow smaller down-payments as low as 3.5%.

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14y ago

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Related Questions

What is the benefit of using an FHA loan calculator?

There are many benefits to using an FHA loan calculator. An FHA loan calculator can tell someone how much of a loan they should apply for and would be able to pay back. It also tells a person how much a monthly payment would be on any amount of a loan.


What are some benefits of an FHA home loan refinancing?

There are several benefits of an FHA home loan refinancing. An FHA home loan is one of the easiest to qualify for. If for some reason you decide to sell your home, the buyer of your home can then take on your loan, leaving you with less money to pay in the end. This is called being assumable. Even if you have filed bankruptcy or have gone through a bankruptcy, you can still qualify for most FHA home loans.


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.


What are the requirements for an fha refinance?

An FHA loan is a loan for first time home buyers. HUD has a website where you can talk to FHA housing counselors who will be qualified to answer all your questions regarding an FHA loan (http://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor.