cash: FHA-Did You Know?
- 05/14/08 03:38 AM
Monthly MI is not required on loans with a 15 yr term and an LTV of 89.99 or less. FHA does not have a declining markets policy United States Citizenship is not required for eligibility (borrower must be a lawful permanent resident alien with valid social security card and evidence of lawful permanent residency - loans can also be made to non permanent borrowers with proper documentation) A spouse and or spouse/children are considered occupant owners when the other spouse is in the US Military and stationed elsewhere HUD will generally not insure more than 1 FHA loan at a time (6 comments)