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How Can The FHA Assist Me In Buying A Home?
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 smaller down paym...
What Are The Steps Involved In The FHA Loan Process?
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 be originated more quickly than before. And, if you don...
What Types Of Closing Costs Are Associated With FHA-Insured Loans?
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 t...
What Costs or Fees Are Associated With Loan Origination?
Yes, loan origination involves costs and fees. As you’ll see in the video, when you turn in your application you'll be required to pay a loan application fee to cover the costs of underwriting the loan. This fee pays for the home appraisal a copy of your credit repo...
How Do I Choose The Right Lender For Me?
There are some great tips in this video. Choose your lender carefully. Look for financial stability and a reputation for customer satisfaction.
Be sure to choose a company that gives helpful advice and that makes you feel comfortable.
A lender that has the authority...
What Happens After I’ve Applied For My Loan?
Once you've supplied the 6 required piece of information and included any other information the lender deemed necessary, you'll receive a Loan Estimate within 3 business days.
Once all the information has been verified IF the loan is approved the lender will provid...
How Can I Find Out About Schools & Community Resources?
The video puts this in more visual terms, but basically, contact the local Chamber of Commerce for promotional literature or talk to your real estate agent about welcome kits, maps, and other information.
You can get information about school systems by contacting the ...
How Can I Determine My Housing Needs Before I Begin The Search?
Like the video shows, your home should fit the way you live, with spaces and features that appeal to the whole family.
Before you begin looking at homes make a list of your priorities - things like location and size.
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