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Guide to FHA Home Loans

How To Apply For An FHA Loan

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingFHA loan application form

Applying for an FHA Loan is not much different than applying for a standard conventional mortgage. There are extra documents specific to FHA that must be filled out, including FHA Addendums, an FHA notice to homebuyers, and a few other FHA standard mortgage documents. However, the core documents remain the same. Getting Started with an FHA Mortgage Application Step 1: Fill Out a Loan Application If you’ve decided to apply for an FHA Loan, you…

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FHA Loans vs. USDA Loans

Posted in Guide to FHA Home Loans, Guide to USDA Home LoansPosted by Maple Tree FundingYoung couple consulting with mortgage broker about FHA vs. USDA home loan options

When choosing a loan program, it’s important to understand your options. Let’s take a look at two different types of popular government loan programs – FHA loans and USDA loans – and how they compare to one another. Weighing Your Options: FHA Loans vs. USDA Loans Government mortgages are backed by the government, as their name indicates, meaning that the government ensures repayment to the bank or lender if you happen to default on your…

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Do I Qualify for an FHA Loan?

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingBusinessman explaining FHA loan policy to young couple.

The Federal Housing Authority (FHA) backs mortgage loans for people who don’t quite fit the traditional underwriting criteria for getting approved for a home of their own. People that benefit from these loans are first time home buyers, people who don’t have much credit history, and people who have had credit issues in the past but have everything back on track. Because these loans are designed to help an underserved segment of the population, they…

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FHA Mortgages in Albany & Saratoga, New York

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingFHA loan written on the model of home.

FHA mortgages in Albany New York and Saratoga New York are mortgages insured by the United States Federal Housing Administration. Here at Maple Tree Funding we’ve worked with Albany and Saratoga FHA mortgage borrowers since our beginnings in 2003. If you’re interested in an FHA loan in the Albany or Saratoga NY areas, we’re a great partner to work with! Our experienced FHA Loan advisors are available by phone to answer any mortgage questions you…

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2020 FHFA and FHA Loan Limit Changes

Posted in Guide to FHA Home LoansPosted by Maple Tree FundingGraph with upward arrow and 2020 representing the increase in FHA and FHFA loan limits

Both the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) have increased maximum loan limits for 2020. 2020 FHFA Loan Limits On the conforming side (FHFA), in 2016 the loan limit for one-unit properties was $417,000. In 2017 this increased to $424,100, and in 2018 the limit increased to $453,100, and in 2019 the limit increased to $484,350. In 2020, the one-unit conforming loan limit has been increased to $510,400. This increase…

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