<![CDATA[Real Estate Forum - FHA Loans, Requirements & Rates]]> http://www.loansafe.org/forum/ FHA loans are coming back strong into the mortgage market. Borrowers need to get educated about the different requirements, guidelines and rates that FHA offers. en Tue, 18 Jun 2013 21:31:27 GMT vBulletin 60 http://www.loansafe.org/forum/images/misc/rss.png <![CDATA[Real Estate Forum - FHA Loans, Requirements & Rates]]> http://www.loansafe.org/forum/ Back-end Ratio w/ Student Loans Paid by Parents http://www.loansafe.org/forum/fha-loans-requirements-rates/85463-back-end-ratio-w-student-loans-paid-parents.html Mon, 17 Jun 2013 18:36:09 GMT Thanks for this great forum. I've been doing some searching on here but can't find an answer for my specific question. I currently have $121k in student loan debt ($1163/mo) that my parents have been paying for the past 2+ years and will continue to pay until they are paid off (my dad is also a co-signer). Would lenders be willing to effectively remove the monthly payments when calculating our back-end ratio? I have included our "stats" below. This factor will be the difference between getting approved for a $300k loan or a $75k loan.

Combined Gross Income (monthly): $8,433
Combined monthly debt (credit cards/auto loan): $593
Student Loans (paid by wife): $384
Student Loans (paid by my parents): $1163

Thanks for the help in advance.

Wes ]]> FAPro http://www.loansafe.org/forum/fha-loans-requirements-rates/85463-back-end-ratio-w-student-loans-paid-parents.html Lenders Pre-Qualifying FHA Loans w/ IRS Installment Agreement http://www.loansafe.org/forum/fha-loans-requirements-rates/85446-lenders-pre-qualifying-fha-loans-w-irs-installment-agreement.html Fri, 14 Jun 2013 23:26:07 GMT Good afternoon - I am looking at a FHA loan right now. I do have an IRS lien, but have been on a installment payment plan for nearly two years -... Good afternoon -


I am looking at a FHA loan right now. I do have an IRS lien, but have been on a installment payment plan for nearly two years - all payments on time.

A couple of lenders have said the lien has to be removed/debt paid, EVEN with FHA. Another said they could work to give cash back to pay for the lien amount.

Are there any specific lenders one can recommend that they will accept proof of payment history on an installment agreement for the FHA?

Thank you for your help. ]]> Kris Parker http://www.loansafe.org/forum/fha-loans-requirements-rates/85446-lenders-pre-qualifying-fha-loans-w-irs-installment-agreement.html Question on paying mortgage within the 30 day time frame http://www.loansafe.org/forum/fha-loans-requirements-rates/85309-question-paying-mortgage-within-30-day-time-frame.html Tue, 04 Jun 2013 03:09:30 GMT Can someone please answer this for me? If I have continually made all my mortgage payments in the month they are due but after the due date and the... Can someone please answer this for me? If I have continually made all my mortgage payments in the month they are due but after the due date and the grace period will that be reason to deny me for a new fha loan? I ask because I always make my payments before the end of the month. I realize I'm adding late fees to my account but my intentions are to pay them when I pay my mortgage in full with the sale of my home. I have never gone over the 30 days since I was discharged from my chapter 7. I'm a little concerned about this when submitting all my information for a pre approval. Anyone? ]]> KayLake http://www.loansafe.org/forum/fha-loans-requirements-rates/85309-question-paying-mortgage-within-30-day-time-frame.html Shocked at Up Front Cost and Monthly MIP on FHA loan purchase http://www.loansafe.org/forum/fha-loans-requirements-rates/85219-shocked-up-front-cost-monthly-mip-fha-loan-purchase.html Sun, 26 May 2013 06:07:30 GMT Shocked at Up Front Cost and Monthly MIP on FHA loan purchase



Is anyone else shocked at what they're charging for up front fees and monthly MIP on FHA loans?

And after June 6th it will be on the life of your loan if your home don't reach 78% equity.

I'm getting a loan for $466,396.00 after my 3.5% Down Payment on a home apprised @ $510,000.00

Any idea what the Up Front Cost and Monthly MIP on my FHA loan purchase?


Thanks!
 ]]> iOwnSomeMNTA http://www.loansafe.org/forum/fha-loans-requirements-rates/85219-shocked-up-front-cost-monthly-mip-fha-loan-purchase.html Qualifying for FHA loans http://www.loansafe.org/forum/fha-loans-requirements-rates/85140-qualifying-fha-loans.html Tue, 21 May 2013 20:05:28 GMT Hi everyone: Neeed you opinion about my current situation. Walked away from a home in MD and eventually we went to foreclosure, 3 years will... Hi everyone:

Neeed you opinion about my current situation.

Walked away from a home in MD and eventually we went to foreclosure, 3 years will complete next month, no deficiency judgement due and MD allowance for suing you is 3 years. We now live in a nearby state.

Wife is desperate for buying a house and I sympathize with it.

Our current financial situation

Credit scores Upper 600s
Foreclosure was the only delinquency
Have 2 car loans (combined payments around $1500/month)
My unsecured debt is around $33000 (payments around $700/month)
Rent $1400
No student loans and no other debts.
Saving now for downpayment (think will need around $25000 assuming 3.5% downpayment)
Annual gross income combined: $190000
Will not take a loan > $ 375000 which is the maximum that can be guaranteed in this county by the FHA

Would I qualify for a FHA backed loan?
Other alternatives you guys would suggest? (In June FHA backed loans will become more expensive)

Thanks for your answer. You guys were great to me 3 years ago when I did the walk process. ]]> MDwalker http://www.loansafe.org/forum/fha-loans-requirements-rates/85140-qualifying-fha-loans.html