Yes, the property you are purchasing with an FHA loan has to be owner-occupied, meaning you intend to live in it shortly after purchase (within 60 days of closing). You are also expected to live in it for at least a year. However, that doesn’t mean you can’t eventually turn your...
Homeowners must meet certain eligibility requirements, such as a history of on-time payments and a net tangible benefit from refinancing. Forfirst-time buyersor homeowners considering refinancing, understanding how this program compares to options like anFHA purchase loanor anFHA cash-out refinanceis ...
NO,FHA mortgage loansareNOTforfirst–time buyers only.FHA loanscan be used by first-timebuyersand repeatbuyersalike. TheFHA mortgageis often marketed as a product for “first–time buyers” because of its low down payment and flexible qualifying requirements. FHA mortgage applicants can purchase ...
Seasoning Requirements The FHA can insure a loan for a borrower after a Chapter 13 discharge if at least two years have elapsed, the borrower has re-established good credit and made all payments on time since the discharge date. The same two-year seasoning rule applies to a Chapter 13 dismi...
Seasoning Requirements The FHA can insure a loan for a borrower after a Chapter 13 discharge if at least two years have elapsed, the borrower has re-established good credit and made all payments on time since the discharge date. The same two-year seasoning rule applies to a Chapter 13 dismi...