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FHA NEWS and RELATED ARTICLES
Courtesy of FHA.com
An FHA refinance mortgage or FHA loan allows for the refinance or purchase of a home with a low down payment. These loans are great for the first-time homebuyer. Below are several articles that may be valuable to those looking to purchase a home with an FHA loan and those who are currently "underwater with a non-FHA loan.
FHA Short Refinancing is only for borrowers who are underwater on properties that are considered the borrower’s primary residence, and is intended only for those with non-FHA guaranteed home loans.
If you want to apply for a loan to buy a house with an FHA mortgage, one important fact you should know is that the FHA does not set interest rates, regulate closing costs or negotiate discount points on the mortgage.
The Basic Allowance for Housing, or BAH for short, is a military benefit that comes in handy when applying for an FHA loan or VA home loan because it provides the lender with an easy-to-measure proof of a veteran’s ability to pay a mortgage.
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