Category Archives: FHA Loan

FHA Home Loan Limits in Illinois

Posted on March 25, 2018 by Aaron Gitler

FHA (Federal Housing Authority) loans on single and multi-unit properties are designed for borrowers who are unable to make large down payments. Instead of the traditional 20% down payment required by banks, FHA loans only require a 3.5% down payment … Continue reading →

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Why the FHA Self-Sufficiency Test Is So Important For First-time Investors in 3- or 4-Unit Properties

Posted on February 15, 2018 by Neena Vlamis

An FHA loan is a mortgage insured by the Federal Housing Administration. Backed by the Federal Housing Administration, an FHA loan may require a down payment as little as 3.5% for a credit score of 580 or higher versus the … Continue reading →

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FHA: Fewer Home Approvals

Posted on October 27, 2011 by Aaron Gitler

The Federal Housing Administration suffered a 27% drop in market share from fiscal 2010 numbers. Department of Housing and Urban Development numbers show that while FHA refinance volume has increased by 9% since August, the 12% drag on purchase production … Continue reading →

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The FHA Mortgage Insurance Premium

Posted on October 17, 2011 by Neena Vlamis

FHA mortgage insurance is similar to the private mortgage insurance (PMI) required for conventional mortgages with down payments below 20%, but key differences exist: Up-front Fees: 1% up-front fee due at closing. Rate: For fixed rate loans, there is an … Continue reading →

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