Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, ...
You don't need much equity with FHA refinance loans and they are very flexible when it comes to credit guidelines. When a homeowner refinances a FHA mortgage with an increased principal amount to get additional funds. In most cases, this happens when the home increases in value and the borro...
Qualifications by lender, as these loans are offered through private lenders and not the FHA itself. However, the FHA does offer FHA mortgage qualification guidelines for lenders to follow, including: FICO score of at least 500 for 10% down payment, or 580 and above for 3.5% down payment ...
Some administrators of 401(k)/403(b) plans allow for loans against the monies you have accumulated in these plans. Loans against 401K plans are an acceptable source of down payment for most types of loans. government loan (mortgage) A mortgage that is insured by the Federal Housing Administra...
make up the majority of loans in the U.S. and are loans that must conform to the guidelines set by Fannie Mae or Freddie Mac in order to be saleable by the lender. Such loans must meet established and strict requirements regarding maximum loan amount, down payment amount, borrower income ...
Disclaimer: No statement on this site is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet Loan-to-Value requirements, and final credit approval. Approvals are subject to underwriting guidelines, ...