What Is An FHA Loan?

Home loan professional Rob Spinosa of http://www.themortgagedictionary.com answers the question that many first time homebuyers have, "What is an FHA loan?" Also covered in this short video are the comparisons and contrasts between an FHA loan and a conventional mortgage, and the benefits of FHA mortgages in certain home buying situations. Topics include; down payment requirements, benefits of FHA loans, seller credits, non-occupant co-borrowers (co-signors), debt ratio limits, gift funds, FICO scores and other attributes of the pre-approval process with both FHA and conventional mortgages. A discussion about mortgage insurance, UFMIP and MIP addresses the costs of FHA loan and demonstrates how these factor into the monthly housing payment. For more information or to begin the pre-approval process for an FHA loan, contact Rob Spinosa at rspinosa@rpm-mtg.com or by phone at 877-270-5959. Rob is a home loan professional in Mill Valley, California, just north of San Francisco. He can also be found on social media platforms Facebook (homefinancefundamentals), Twitter (@robspinosa) and LinkedIn (Rob Spinosa).

Category:

Education

Tags:

• fha
• mortgage
• home
• loan
• conventional
• first
• time
• buyer
• down
• payment
• insurance
• MIP
• UFMIP
• real
• estate