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Commission Income and FHA Loans: A Reader Question
How does commission income count when applying for an FHA mortgage? A reader asked us recently, “I was denied a mortgage because of a commissioned salary, even though Im full time and am guaranteed...
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Divorce And FHA Loans: A Reader Question
A reader asks, “I was divorced 5 years ago but he stayed in the house. He is always behind on the payments and it affects my credit. I have divorce papers that state he is solely responsible for the...
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Credit Score Questions
Credit score issues are some of the most popular topics in our comments section-many want to know if their FICO scores are high enough to qualify for an FHA mortgage. One reader asked recently, “(Can)...
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Mortgage Rates: Moving Lower
Mortgage loan interest rates have been moving downwards since our last report, but the moves have been small, and we still see a familiar range of rates. 30-year fixed rate conventional mortgages are...
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FHA Loan Employment Rules: A Reader Question
A reader asked us a question in the comments section recently about FHA loan rules for employment verification. “I just got denied a FHA loan because I had a gap in employment for only 3 months. I...
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Child Support Income and FHA Loans
A reader got in touch with us to ask a question about how a participating FHA lender will view child support payments. “My significant other and I want to apply for a house loan together. He...
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Mortgage Rate Trends: Third Day Lower
Mortgage rates fell for the third day in a row on Friday, though affected borrowers may have noticed the changes reflected in closing costs rather than an actual interest rate change. We’ve seen rates...
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Types of Homes Eligible For FHA Mortgages
What kinds of property types can be purchased with an FHA mortgage loan? It’s a simple question, but there are some occasional misconceptions about FHA requirements for single family homes that...
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FHA Well Water Requirements: A Reader Question
What do FHA appraisal requirements have to say about the testing of well water? A reader got in touch with us recently to ask us about well water testing: “Is there an automatic testing of the well...
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FHA Loan Rules On Occupancy And Second Homes
Occupancy is a key issue for FHA single family home loans. When you purchase a residence with an FHA mortgage, one of the requirements loan approval is conditional upon is that the borrower is expected...
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