March 10, 2015
If you are considering the purchase of a home using an FHA loan offered by a participating FHA lender, you don’t have to start the planning process in the dark. The FHA official site, www.FHA.gov, has a page of resources and advice you can use long before you start house hunting that can help you be a much better prepared FHA borrower.
Not sure how much home you can afford before you start your journey to find the right property? The FHA Home Economics PDF is a very good place to start your research.
You can also check out the FHA’s helpful list of housing programs broken down by state–there may be resources in your home state for first time home buyers, or buying assistance programs near you. Explore the list broken down by state.
Are you aware of your rights as a borrower? Being informed on these issues is every bit as important as knowing your FICO scores and seeing your credit report prior to applying for the loan.
There are home buyer checklists you should explore online to go into your house hunt ready to look for issues that could affect your buying decision; these can include areas such as snow removal plans in the neighborhood, proximity to the police or other essential services, even an area to remind you to check the basement for dampness and examine the floor plan of your potential new home.
There are many such resources available directly from the government. To see them all, explore the FHA official site at the Buying A Home page.
Do you have questions about FHA mortgages? Ask us in the comments section. Please be aware that all comments and questions are held for review.
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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