FHA / VA One-Time Close Blog

Did you know that in certain cases, FHA single-family home loan rules in HUD 4000.1 permit the borrower to add funds to weatherize an existing construction home being purchased with an FHA mortgage? According to HUD 4000.1:"The weatherization product permits the Borrower to finance the cost of el...

HUD 4000.1 was published earlier in 2015, and contains new, updated, and restated FHA loan policy on single-family mortgages, refinance loans, HECM loans and more.One important section of the new FHA home loan rules for single family mortgages is the part of HUD 4000.1 that discusses maximum mort...

A reader got in touch with a question in the comments section about FHA loan FICO score requirements, asking, "I have a client that was denied by my lender but has an approval by another. My situation is this.parents are putting $200k down for the purchase. The boys will be qualifying for the $15...

HUD 4000.1, the new FHA single family home loan rulebook, has specific instructions to participating FHA lenders about the appraisal process.  An appraisal is required as we learn from this line in Part II Section A of the rulebook:"The Mortgagee must order a new appraisal for each Mortgage or r...

Here is a common type of question about applying for an FHA mortgage loan when you have owe a debt to the federal government:"Can anyone tell me what the guideline for FHA loans regarding payment plan with IRS when you do not own property and you owe taxes? "FHA loan rules here are basically conc...

HUD 4000.1, the recently published Single Family Home Loan policy rule book, has either reprinted, revised, updated, or restated FHA loan policy for all single family home loan transactions. That's why we're examining some of the most important-to-the-borrower sections of the new rules--bringing ...

Recently there was FHA/HUD press release issued, announcing action against a Pennsylvania landlord who allegedly discriminated against families with children in his rental practices. The same kinds of violations of the Fair Housing Act can occur when trying to buy a home, and such cases are impor...

A recent reader question about FHA appraisal requirements on roof issues had us looking up details on those requirements in the new FHA Single Family loan handbook, HUD 4000.1.The previous FHA loan rulebooks including HUD 4155.1 and HUD 4155.2 have been superseded by HUD 4000.1, so it seemed like...

The Consumer Financial Protection Bureau (CFPB) is a government agency designed to help consumers and protect their interests against fraud and unfair practices. CFPB issued a statement recently about new federal guidelines that will affect the mortgage lending process, making it easier for borro...

I get many questions about the difference between FHA loan minimum FICO score and credit requirements and the lender requirements for same. Here's one of the latest examples:"Seems like there is a lot of contradiction between what is on the FHA site and what the FHA Reps. are answering the consum...