September 8, 2014
The FHA official site, www.FHA.gov, has links to helpful videos that can instruct those new to the FHA mortgage loan program. One of those videos produced by the FHA/HUD is titled, “Shopping For Your Home” and offers some expert insights into how to make the best choices in the FHA loan process.
One bit of advice the FHA offers is that borrowers can benefit by taking advantage of the option to get a referral to an FHA/HUD approved housing counselor. Borrowers who do this early in the loan planning process can save themselves time and even money thanks to the advice of the housing counselor.
Borrowers will learn through the video what it takes to determine how much home you can afford by using a mortgage loan calculator. The video also covers the process of working with a real estate agent, and the process that happens when you locate the home you want to make an offer to buy.
The video is instructional, but it’s important to get this advice as early in the loan preparation process as possible–you should give yourself at least 12 months of prep time when planning and saving for a home loan. The hows and whys of this can be further addressed by the video as well as a housing counselor should you choose to use one.
Below, click on the official FHA/HUD video titled “Shopping For Your Home” to learn more.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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