FHA and VA Home Loan Requirements
New! USDA Rural Home Loans

FHA (Federal Housing Administration) loan requirements do not have the reputation for being simple. Neither do the VA (Veteran Affairs) and USDA Rural Home Loan programs. I can help with that! As a mortgage specialist for many years, I started this website to provide unbiased and reliable information to first time home buyers and seasoned homeowners alike.

Breaking News: FHA Mortgage Insurance Reduction

Effective January 26, 2015: HUD announces a reduction in annual mortgage insurance to entice more first time home buyers back into the real estate market.

See how much you can save at Introducing FHA Mortgage Loans.

Your Guide to FHA, VA, and USDA Rural Home Loan Requirements

Ask Kate at Get-Your-Best-Mortgage-Rate.com

So let's get started, shall we? Here are unique questions and answers that quickly get to the heart of FHA, VA, and USDA Rural Home Loan guidelines. You'll find out what Readers just like you are asking in addition to my experienced-based insight.

First off though, do you have your own question? Go to Ask Kate.

Newest USDA Questions: Rural Home Loan Financing

Refinancing My Home in Husband's Name with FHA Mortgage

FHA Loan Modification: Partial Claim Promissory Note - FHA borrowers who are struggling to the point of missing four consecutive mortgage payments due to a hardship (job loss or serious illness, for example) might be eligible to save their home through an interest free loan called a Partial Claim.

Getting FHA Mortgage Approval After Bankruptcy to Buy a Home - Brian was turned down for FHA because his ex-spouse hasn't paid their joint mortgage since the divorce. He has a good job, 2 small boys, and wants a modest condo. He asks for solutions.

VA Loan Requirements for Non-Borrowing Spouse - Learn who can get a VA mortgage as a sole borrower, that is, without their spouse co-borrowing.

Compare USDA Rural Home Loans to FHA Home Loan Mortgage Financing - Jeanine is combining her income with her mother's to qualify for a mortgage. She asks me to compare 2 home buyer programs that don't require a lot of cash, zero down payment USDA and minimal down payment FHA.

USDA Refinance: No Appraisal, No Equity, No Credit Report, No Debt-to-Income Ratio Calculations - Now there is good news for middle class homeowners currently financed with an underwater USDA guaranteed mortgage.

USDA Rural Home Loans: Zero Down Payment Mortgage - If a zero down payment, competitive fixed rate for 30 years, affordable Guarantee fee, no mortgage insurance, and never a prepayment penalty sounds attractive, let's discuss a niche program which many home buyers ignore, mistakenly assuming it is restricted to farm residences.

Newest Federal Housing Administration Questions: FHA Loan Requirements

Tip: Here is where you will find you are not alone when it comes to questions about FHA loan requirements.

FHA 203k Rehab Loan and HARP Streamline Refinance - Banks don't want renovation begun until the loan process is complete. So how can Jennifer refinance to finish her remodel? Taking a lower interest rate might be in Dani's best option unless her loan approval depends on HARP no-income verifier guidelines.

Is Refinancing My FHA Loan Necessary to Cancel Mortgage Insurance - Bob asks if he will have mortgage insurance if he finances his home with FHA loan. He also wants to know if it takes refinancing to cancel the MI.

FHA Refinance After Bankruptcy and Loan Modification - Under current FHA guidelines, how long does Wendy have to wait before she can refinance her mortgage? Her bankruptcy was discharged 4 years ago. Her mortgage has been paid on time since her loan modification a year ago.

Is Certificate of Occupancy Required by FHA Loan Guidelines - Sue's home buyers want a property with a large garage that was converted to a house. Is this possible without a certificate of occupancy? Gretchen's lender won't help her refinance because she temporarily moved out of her home while a crumbling concrete ceiling was repaired. Say what?

Low Down Payment Options for Borrowers with Multiple Mortgages and a Rental Property - Jim has an FHA mortgage on a home purchased about two years ago. Can he qualify for another FHA? He asks for other low down payment options to plan for a home purchase in 2016.

FHA Owner Occupancy Requirements - Debbie can't use the backyard or open her windows since buying her home. Why? Her neighbors' cigarette smoke is too strong. Since she has been sick after moving in, she asks if she can rent the home even though the FHA loan is less than a year old.

Late FHA Payoff: Cancelling After 3 Day Right of Rescission - First Maria's refinance closed late so she ended up paying an additional 30 days of mortgage interest. Then the lending office was closed during her 3 day right of rescission. Can she still cancel her refinance?

FHA Mortgage Eligibility After Short Sale or Foreclosure - Vickie asks if she can refinance a mortgage after her short sale 2 years ago. Beverly wants to know which date a lender uses after foreclosure to determine mortgage eligibility, the sheriff's sale or when her name was removed from the loan.

Can You Qualify for FHA Financing: IRS Tax Extension - Due to self-employment, Nic's lender required them to write off less expenses on their 2013 tax returns. Now they owe $9,200 to the IRS and $2000 in taxes to the state. What are their options?

FHA Refinance Loan: 15 Year vs 30 Year Fixed Rate Mortgages - Stacey from Scottsbluff, Nebraska wants the lower interest rate of a 15 year term but it will not lower her monthly house payment. Would she benefit from the higher rate a 30 year fixed mortgage?

FHA Refinance Costs: Where to Turn When Banks Won't Disclose Mortgage Fees - Judy's mortgage company is charging her $5900 but is unwilling to verify third party charges. Does she have any legal recourse if the refinance fees are inflated?

FHA Mortgage Insurance and Escrow Account Help - When Debbie bought her home, she was told she could get rid of the FHA MIP quickly. When Linda's mortgage was transferred to a new loan servicer, they added her property taxes and homeowner's insurance into her monthly payment.

FHA Streamline Refinance vs Occupancy Guideline - After Tracy refinanced her owner-occupied home, she moved out the house and into her rental property. But Tracy declared on the lender's occupancy agreement that she intends to live in the refinanced property for at least 12 months.

FHA Refinancing My Home in Husband's Name - Gayle inherited a free-and-clear home from her parents. After getting an ARM, she needs to refinance into a more stable loan. Although fixed FHA loan rates are attractive, only her husband qualifies. But can she remain an owner of the house?

Compare Streamline FHA Refinance to FHA HAMP Loan Modifications - Nora completed her FHA HAMP mortgage modification trial period but her bank proceeded to add $14,000 to her mortgage balance. Since she is considering a switch to streamline FHA refinancing, she asks me for pros and cons.

VA Home Loan Refinance Nightmare - Jack tells his story of getting a VA home loan refinance with mishap after mishap on the lender's part. Includes tips for shopping for mortgage lenders, including the Nationwide Mortgage Licensing System Consumer Access with information about originators and companies.

5 Homeowners ask Kate about the FHA mortgage - Do sellers snub home buyers with FHA home loans? Does FHA streamline refinance require a minimum credit score? Can I remodel with the FHA rehab loan? Will streamline refinancing my FHA loan be worth the effort? Will refinancing increase FHA mortgage insurance?

FHA Streamline Refinancing - Decrease in FHA mortgage insurance premiums for streamline refinancing offers hope to FHA borrowers with underwater mortgages.

FHA Refinancing Tips - Is FHA streamline refinance smart? What's the difference between FHA insured mortgage and conventional home loan? How do I get FHA refunds? Can I FHA streamline refinance with second lien? Where can I find FHA streamline loan for rental properties?

VA Loan Guidelines for Selling A House - Home is being sold "as is". Will mortgage company, bank, FHA or VA require necessary code updates prior to approving loan?

Why Is FHA Loan Refinancing So Difficult - Our lender dropped the appraisal down to $140k and says we are not eligible for cash out. Why not?

Finding VA Home Loan Lenders - We are moving back to Houston, Texas permanently and will be in the market for buying a small home.

Problems with No Cost Refinancing - How can my lender begin with FHA no-cost refinancing and surprise me with charges of a few thousand dollars at closing?

How Much Is PMI For FHA Loans - Do FHA mortgage lenders charge different PMI rates. Or do they determine mortgage insurance in the same manner?

FHA Streamline Refinancing - The only problem with our FHA streamline refinance is occupancy. But our mortgage broker just says he didn't hear us say we've moved out of our house.

FHA Refinances - How do I find the lowest mortgage rate? Small mortgage company or large bank?

Overcoming FHA Appraisals - How strict is an FHA appraisal and will it keep me from buying a foreclosure?

My FHA streamline loan owner-occupancy question - I own an FHA mortgage with my mother and want to take advantage of the low interest streamline ARM.

What Is FHA mortgage insurance - How does it protect me and do I have to obtain the mortgage insurance myself?

FHA end loan - How can I avoid mortgage insurance?

FHA mortgage insurance refund question - I got a homeowner's fact sheet saying I could get a FHA mortgage insurance refund.

FHA refU.S. Department of Veterans Affairs advice needed - Without a cash-out refinance, we will be in trouble next month meeting our current mortgage payment.

Frustrated over FHA mortgage limits - Is there any authority we can appeal to in order get FHA mortgage limits raised?

FHA loan guidelines for condos - I have suddenly been told that we cannot use an FHA loan to buy properties in this community.

FHA streamline refinance questions - If I was even able to back out, could that potentially hurt my credit score?

FHA loan requirements for appraisals - Are there things that FHA requires to be repaired prior to closing?

Newest Veterans Affairs Questions: VA Loan Requirements

Tip: Here is where you will find you are not alone when it comes to questions about home loans guaranteed by the Department of Veterans Affairs.

Mortgage Rate Lock Cancellation Junk Fee - If William cancels his VA cash-out refinance, his lender is going to charge him a cancellation fee because he already locked in his interest rate. William asks if this is a junk fee which VA does not allow.

VA Loan Guidelines: Cash Out Refi and Home Buying - Meet Jack who owns his home free and clear yet wonders if he'll qualify for a new VA cash out refinance. Casey's loan officer won't allow her to state tip income on her mortgage application or give her credit for the earnest money deposit.

VA Home Loan Refinance Nightmare - Jack tells his story of getting a VA home loan refinance with mishap after mishap on the lender's part. Includes tips for shopping for mortgage lenders, including the Nationwide Mortgage Licensing System Consumer Access with information about originators and companies.

VA Loan Guidelines for Selling A House - Home is being sold "as is". Will mortgage company, bank, FHA or VA require necessary code updates prior to approving loan?

Finding VA Home Loan Lenders - We are moving back to Houston, Texas permanently and will be in the market for buying a small home.

VA Loan Refinancing With Unpaid Collections - I qualify for a VA cash out refi for construction but I have unpaid collections. VA consultants in Atlanta tell me the collections should not have to be paid. What options do I have?

VA Home Loan Eligibility And Tipped Wages Income - My fiance and I are trying to buy a home with a VA home loan using income from tipped wages.

Refinancing advice for active duty Marine - Would it be a good idea for me to refinance now?

How do I know if a VA mortgage loan is my best choice - My sister just did the Harp refinance and said she didn't pay any closing costs.

Contact Kate about a VA home loan - Is there an eligibility calculator to see how much I would be eligible to borrow on a VA home loan?

Ultimate Collection of Ask Kate Articles - Cruise My Site

Ask Kate About FHA and VA

Kate's Guide To FHA Home Loans and VA

Blockbuster Article Collection A-J

Blockbuster Article Collection K-Z

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