Tú ya eres elegible para un Mortgage! Llama y confirma tu cita! Lorena (909)714-4627 Homerica Inc 3333 Councours St Bldg 4 Suite 4102 Ontario, CA 91764
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Guidelines and Facts for FHA Loan Borrowers in 2017

Useful guidelines about FHA refinance loans, new FHA loans, and the guidelines that HUD wants you to follow.

Today the mission of the FHA includes helping borrowers get amounts they qualify for, and assisting lenders by reducing their risk in issuing loans.

If you have had credit problems in the past, the FHA recommends a Consumer Credit Counseling program to avoid being denied an FHA loan

FHA loans do not come directly from the FHA. The FHA guarantees home loans, reducing the risk to lenders and offering increased borrowing power to qualified applicants.

"Reasonable and customary" mortgage loan fees can include appraisals, inspections, credit reports, document preparation fees and more.

There are fees included in the processing of some loans that are not directly related to closing costs. Some of these include courier fees, wire fees, real estate broker fees, recording fees and recording taxes.

Your FHA mortgage is designed to get you into a home for a fair price; you should not pay above and beyond the normal fees associated with buying a home. One major mistake potential home buyers can make when applying for an FHA home loan is to make a major credit purchase. Don't cloud your debt-to-income ratio with a big purchase before applying for your loan.

In most circumstances, falling behind on your FHA mortgage requires quick action. Never ignore it. Always act immediately to avoid foreclosure. According to FHA loan guidelines, you may be eligible for an FHA "reverse mortgage" which allows you to convert part of the equity in the home into cash.

Do a little research and you'll find that HUD and the FHA have always changed for the better. The FHA constantly evolves to serve potential home buyers best. The FHA offers homeowners a chance to avoid foreclosure and make good on their FHA mortgages in delinquent status.

FHA mortgage loans are a very good option for borrowers looking for a lower down payment and less stringent credit requirements than conventional mortgages.

Remember, the FHA does not make home loans. They insure the FHA loans that we can assist you in getting. 

Hope to see you soon at our office!

Homerica Inc

The Ulloa's Team - Lorena

3333 Concourse St.

Bldg 4 Suite 4102

Ontario, CA 91764

(909)714-4627