Tag Archive for: fha loans

Self-Employed Mortgage Guide 2026

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Getting a mortgage when you are self-employed is more straightforward than most business owners expect, but the rules are different and knowing them before you apply changes the outcome. The challenge is rarely eligibility. It is that self-employment income gets calculated differently, and borrowers who do not know the math often apply at the wrong time, with the wrong documents, or for the wrong program. Here is the full framework for 2026, including how lenders calculate your income, which loan options are available, and the moves that strengthen your file months before you apply.Read More

Can You Buy a Condo With FHA? 2026 Guide

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First-time homebuyers will appreciate the new FHA guidelines for condo buyers because they promote affordable and sustainable homeownership.Read More

First-Time Homebuyers Get Much Lower Rates, Unless….

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Real Estate Agents – Here are some extremely important reminders about first-time homebuyer interest rates. I have been in the mortgage industry since 1994, and for 25+ years, I would […]Read More

FHA Single-Unit Approvals For Non-Warrantable Condos

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In December, I wrote this blog: This Is Huge: FHA Spot Approvals Work For Non-Warrantable Condos. Well, I’m hitting it again because it has become even “huger.” Read More

Rent Backs; Flips; Fake Lender Credits; Fed Day; DeepSeek = Deep Fake?

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On Monday I blogged about how the sudden emergence of the Chinese AI firm, DeepSeek, crashed the markets – making the point that because it was developed with so little money, it posed a huge threat to America’s dominant AI firms.Read More

Please Don’t Fear FHA; “Spot” FHA for Condo Units; $6,500 Credits = Free Money

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We recently ran into a listing agent who was turning away ALL FHA offers even if they were significantly higher than other offers. This was shocking to us, as we thought the FHA inferiority myth had long been dispelled. I’ve blogged about this many times, but I’m hitting it again for two reasons: (1) the interaction with the above agent proves that the myth lives on; and (2) I want to make sure agents and sellers alike don’t leave money on the table for no reason.Read More

How to Use Your 401k to Buy a House

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Your 401k isn't just a retirement savings vehicle; it can also be a source of funds when making significant life decisions, like purchasing a home. However, it's essential to understand the methods available to tap into these savings and their respective implications.Read More

All The Loans Banks Don’t Have: Non-QM, No Income Verification, Rental Income Only, Bank Statement, Hard Money, & Renovation

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I am blogging about Non-QM and other unusual loan products again because a borrower came to us recently after being told by a commercial bank that there were no mortgage options for him because he lacked the required income verification – when the borrower in fact qualified for several viable non-QM loans, one of which he readily and happily accepted.Read More

Why So Many Lenders Have Rates Below the National Average (it’s not what you think)

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We got the JOLTS report yesterday and the ADP report today, and among other things, we are seeing: (1) slower job creations; (2) the creation of part-time jobs instead of full-time jobs, making new jobs data much less rosy; (3) the double counting of new jobs because of the way openings are posted online; (4) “quiet cutting” where employers shift employees into lower-paying jobs; (5) much less job switching; and (6) less confidence in employers, based on employee surveys.Read More

How to Get a Mortgage as a Self-Employed Person with 1 Year of Income

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Absolutely! While there are certain nuances that can make purchasing a home slightly more challenging for self-employed individuals to obtain a mortgage compared to traditionally employed individuals, it’s definitely possible. Lenders typically assess your financial stability and ability to repay the loan. The key lies in demonstrating your income and financial health convincingly.Read More

Why I HATE 40-Year Mortgages

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There has been a lot of hubbub recently about FHA’s 40-year mortgages. But – it is all for naught, as FHA is ONLY offering 40-year mortgages for loan modifications for […]Read More

Jumbo Loans In Peril Because Of Commercial Bank Issues

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The former owner of RPM Mortgage (now merged with Cross Country) told me about a particularly harrowing ordeal he went through in 2008. His company had locked tens of millions of dollars of loans with the intention of selling them to particular investors when they closed.Read More

Are FHA Loan Appraisals Public?

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If you are one of the many homebuyers looking to qualify for an FHA loan to purchase a primary residence, you will need to get an appraisal. An FHA appraisal establishes the value of the property you are purchasing and makes sure that it is safe for its new occupants.Read More

In Defense of FHA! Misconceptions Persist!

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FHA financing is ideal for first-time homebuyers or borrowers with low credit and limited savings. FHA loans have lower rates than conforming (Fannie/Freddie) loans. This is especially the case for borrowers with low credit scores (under 680).Read More