Remember these points from the video: The FHA works to make homeownership a possibility for more Americans. With the FHA, you don’t need perfect credit or a high-paying job to qualify for a loan. The FHA also makes loans more accessible by requiring...
What you’ll see in this video is, there may be closing costs that are customary or unique to a certain locality, but closing costs are usually made up of the following: Attorney’s or escrow fees (Yours and your lender’s if applicable) Property taxes...
While this video simplifies things to help you remember, in general, you’ll need to present your paid homeowner’s insurance policy or a binder and receipt showing that the premium has been paid. The closing agent will then list the money you owe the...
While this video simplifies things to help you remember, except for the addition of an FHA mortgage insurance premium, FHA closing costs are similar to those of a conventional loan. As of 2013, the FHA requires a single, upfront mortgage insurance premium equal...
The video puts this in more visual terms, but with the exception of a few additional forms, the FHA loan application process is similar to that of a conventional loan. With new automation measures, FHA loans may now be originated more quickly than before. And,...
