FHA mortgages - FHA loans & things that you need to know about them!!!

Mortgage and Lending with Social Media - Infinity Home Mortgage Company, Inc

FHA homeownership


I had a conversation with my dad this evening because he asked me if I had been paying attention to all of the news in regards to mortgages and the real estate market. This led me to explaining to him about FHA and how it's not used as often. Do you know what he said?  I thought FHA mortgages were for First Time Homebuyers and for people with bad credit. Rut row....

Hence why I am here to explain to everyone that this is not the case. And as I stated here, Will Conventional loans be just like the Subprime mess?, I see more and more people obtaining FHA mortgages now.


What are some of the positives in regards to FHA mortgages

  • You can put as little as 2.25% down.
  • You need only 3% of your own money.
  • You can get 100% monies gifted to you.
  • Credit scores as low as 500.
  • Debt to income ratios of 31%/43% --  And these can exceed sometimes up to 50% to 55% depending on the approval system.
  • You can buy a family members house and use the equity as your source of down payment and for closing costs. FHA Gift of Equity Loans


Overall, common sense underwriter is used often.  People making decisions, not computers.


Make sure you seek a mortgage professional that can help you find the right programs, answers all of your questions, and is able to offer any program out there. Each consumer is different with different needs. 



Some things to pay attention to when shopping for any kind of mortgage.




For more information on FHA loans, please go to this link. The FHA Expert You can also go to this group : The FHA Mortgage Group

For more information on how you can obtain your dream home, please click here : Mortgage Financing Options


Copyright © 2007 by Jeff Belonger

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For more information on FHA loans, please go to this link. The FHA Expert

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!



For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors


Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc


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Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC
Hi Jeff,
You always teach me things I did not know.  Am making a copy of this for future reference.
Shame on you for not educating your Dad better, earlier.
Dec 08, 2007 09:27 PM #4
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

What a great primer!  I hope you posted this to the real estate rookie group, so newer agents can benefit from your wisdom and experience! This is a post for bookmarking and future reference, Jeff.

Dec 08, 2007 09:42 PM #5
Tom Plant
WINEormous.com - Murrieta, CA
Jeff - FHA loans are a great route. Didn't they recently raise the limit on what qualifies?
Dec 09, 2007 01:46 AM #6
Brigita McKelvie, Associate Broker
Cindy Stys Equestrian and Country Properties, Ltd. - Lehigh Valley, PA
The Broker with horse sense and no horsing around


This is a great info for everyone about the FHA mortgages.  I do want to add that some are under the impression that the FHA has strict inspections on the homes.  Quite the contrary.  They have eased up on some of the requirements.  Well worth checking into an FHA mortgage.

Dec 09, 2007 02:01 AM #7
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
Jeff, I learn more and more every time I read. Thanks as always for sharing some good information.
Dec 09, 2007 04:02 AM #8
John Occhi
Mason Real Estate - Temecula, CA
SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate

Jeff, once again some really great informaiton for both the REALTOR adn the borrower.

Now Have a Blessed Day,

John Occhi, Hemet REALTOR®
Mission Grove Realty

Dec 09, 2007 04:56 AM #9
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

JASON....  thank you very much. Glad that it's easy to read and to understand. And thanks for compliment.

SALLY....  Solid nowadays and even in past years. I hope you can find some of the links useful and thanks for the kind words.

RANDY....   this is especially important. It can be done when it comes to conventional financing, but it's a lot easier when doing this FHA. If you ever come across, let me know.

CYNTHIA.....   I am glad that you can get something from all of this and I hope it comes in handy someday. In regards to my dad, he is extremely smart and intelligent.  But he is also the average consumer when it comes to stuff like this. If it wasn't for our discussion and him asking questions, I would have never written this post.

MARGARET....  thanks...  And no, I didn't place this in the real estate rookie group. What stinks is that we can only choose 5 groups. Maybe I will duplicate this and place it in that group and a few others.  thanks for the support.

TOM P.....   yes, it is a great product for so many, as long as they are led down the right path. In regards to raising the limit on what qualifies....  do you mean the loan limits?  If so, they approved the bill, but haven't come up with the true figures in regards to what they will raise the loan amounts to.

BRIGITA.... thanks for mentioning that about the appraisals. I forgot to mention that and I will add that soon. Thanks.

CAROLE..... well, thank you. Thanks for the kind comments.

Dec 09, 2007 05:10 AM #10
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans


JOHN.... thank you very much. Enjoy your day.

Dec 09, 2007 05:11 AM #11
Marlene Bridges
Village Real Estate Services, Inc. - Laguna Hills, CA
Laguna Homes|Laguna Condos|Laguna Real Estate
Jeff You are definitely the FHA guru.  What's the cances of the loan limits getting raised sometime soon?
Dec 09, 2007 05:36 AM #12
Matthew Starr Longwell
Starr - Atlanta, GA


Another excellent presentation, organized content structure with plenty of subject depth. You have developed a commanding presence within the active rain network. Your standing is well deserved.

The organizational elements you consistently employ within the body of your posts creates the "plumbing" necessary to effectively deliver endless access to the subject material you embed within each post.  Very clever.

I am new to active rain but so far your blogging skills, organizational consistency and massive archive of subject content is the standard of excellence that all active rain members should aspire to to develop.

And you know a thing or two about mortgages as well.  


Dec 09, 2007 06:57 AM #13
Krista Fuchs
Prudential Fox & Roach - Exton, PA
Chester County Realtor - (484) 459-8025 - Home Buying and Selling
Really informative post, I bookmarked it so I can get to it all.  Thanks!
Dec 09, 2007 08:00 AM #14
Rebecca Savitski
BSR Real Estate Group - Cary, NC
NC Real Estate Listings

Thanks for these post - I have this one bookmarked.


Dec 09, 2007 11:29 AM #15
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

MARLENE.... well, hopefully it still will happen in January. I am going to talk to my contact tomorrow and I will update you all. The Bill was passed, but they were still deciding on the limits. But who knows since it's Congress handling this.

MATTHEW..... wow....  thank you for that awesome and kind compliment. I don't know what else to say except that I hope to read some of your blogs..... and that you continue to read some of mine.

KRISTA..... my pleasure and thanks for stopping by.

REBECCA......  and thank you....  I guess I will be talking to you tomorrow.. well, later this morning.  ;o)

Dec 09, 2007 04:12 PM #16
Chad King
Southeastern Mortgage Processing, LLC. - Tampa, FL
Southeastern Mortgage Processing
Great Post as usual. Thanks Jeff.
Dec 10, 2007 03:11 AM #17
Sherri Sherpy
NMLS #287770

Jeff, I am so glad I found you!  I have been originating for nearly 10 years and let me tell you, in this last year, I have had to dust off the old FHA notebooks and dive back in aggressively!  Up until now, my world has been a mix of 80/10/10's, 80/15/5's and 80/20's...not to mention good ole My Community.  The last 6 months have been nearly all FHA and MN bond programs.  What an eye opener and a challenge to recall all my FHA training and experience from years before!

I look forward to surfing through your blogs and learn, learn, learn!

Dec 13, 2007 07:13 AM #18
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI
Great post on FHA. Thanks.
Dec 17, 2007 08:14 AM #19
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

CHAD..... thank you very much for the kind words.

SHERRI..... well, thank you very much for those polite compliments. I hope I can help some. We will even see a lot more FHA now because of the Fannie and Freddie hits and because of the new FHA loan amounts / lesser down payment loans in January.

WAYNE....  thank you very much.

Dec 17, 2007 04:39 PM #20
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495


This is a great resource!  You're an Active Rain Educator!  Thanks for the post!

Mike in Tucson

Dec 17, 2007 10:35 PM #21
DAdrea Davie
Keller Williams Realty - Stockton, CA
Stanislaus & San Joaquin Short Sale Agent
Great information! It's mind boggling to think that people are not even aware that they can refinance and receive some assistance. Thanks for the post! Im a subscriber!
Dec 24, 2007 05:22 PM #22

i'm trying to relocate. my credit is under 500. single mom. i really need to know what i can do

Aug 19, 2008 01:48 AM #23
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