Are you a first time home buyer interested in buying a house using an fha loan? What are the FHA loan requirements? In this video, Huntington Beach Realtor, Jeb Smith discusses fha loans and the fha loan requirements 2020 like downpayment when buying a home.
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What is a fha loan? An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by an FHA-approved lender.
FHA loan requirements
✅FICO® score at least 580 = 3.5% down payment.
✅FICO® score between 500 and 579 = 10% down payment.
✅MIP (Mortgage Insurance Premium ) is required.
✅Debt-to-Income Ratio less than 43%. (Actually you can go much higher than this)
✅The home must be the borrower’s primary residence.
✅Borrower must have steady income and proof of employment.
I hope you appreciate this update on fha loans for first time home buyers for the housing market 2020 california as well as this real estate market update from your local Huntington Beach Real Estate Realtor, Jeb Smith.
Please let me know your thoughts below: what are your predictions for the housing market 2020 forecast and the housing market 2020 california? After watching this video, do you believe you should be buying a home this year or if now is the best time to sell a house?
Do you believe a house market crash 2020 or real estate bubble will happen? If so, why? What are your thoughts on the Orange County real estate market and the potential real estate crash for orange county real estate?
Jeb Smith (Huntington Beach Realtor/orange county real estate)
Coldwell Banker Realty
I N S T A G R A M ➳ https://www.instagram.com/jebsmith
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Other videos you might find helpful:
NEW Real Estate Market Update: Housing Market 2020 – August 2020 Update – https://youtu.be/cfQPbFaIPL0
NEW Mortgage Update – Interest Rates, Refinancing & FHA -https://youtu.be/A0B1DB-EpaE
Why I decided to refinance RIGHT NOW- New Mortgage Update – https://youtu.be/rbS2we4AO08
Forbearance Update – FHA Repayment Options – https://youtu.be/0_YBAO3HwIo
How do you get the best interest rate – New Housing Market 2020 Update – https://youtu.be/nuJ56Ujwun8
Housing Market 2020 Predictions – NOW may be the BEST TIME TO SELL YOUR HOUSE – https://youtu.be/K7FDZSTRH7I
Housing Market 2020 – Mortgage Forbearance and Foreclosure
New Forbearance Update – Forbearance Facts for FHA & VA Loans – https://youtu.be/BryQTKz9HNY
Pros and Cons of Mortgage Forbearance – Should you use savings instead of doing forbearance – https://youtu.be/znAdBuK8eqU
CARES Act Forbearance Update – Should you accept the terms being offered? – https://youtu.be/rUkmWCRLl7s
#HousingMarket2020 #RealEstate #FHA
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