An FHA appraisal is a critical step in the loan approval process for those seeking FHA (Federal Housing Administration) financing. It serves to evaluate the market value, safety, and overall condition of the property to ensure it meets the FHA’s minimum standards. This appraisal helps to protect both the lender and the borrower by confirming […]

Understanding the concept of FHA identity of interest is crucial for anyone considering an FHA loan. The term refers to a pre-existing relationship between the buyer and seller of a property, which might include familial ties, domestic partnerships, or employer-employee relationships. In the context of FHA loans, an identity of interest transaction can raise concerns […]

Chicago bank statement loans have become increasingly relevant to self-employed individuals in the Chicago real estate market in 2024. As a self-employed homebuyer, navigating the competitive housing market in Chicago can be challenging, especially when it comes to securing financing. That’s why this comprehensive guide is here to help you understand the ins and outs […]

Hey house hunters!   Today, we’re setting our sights on the FHA loan disqualifiers, that’s famous for its accessibility for first-time homebuyers. What will disqualify you from an FHA loan? While FHA loans are known for being more lenient than conventional loans, there are still some hurdles you’ll need to clear to qualify.  Don’t worry, […]