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How FHA Mortgages Work

How FHA Mortgages Work

Show Notes

FHA mortgages don’t always get a fair shake.

I often speak to home buyers that claim to have challenges getting offers accepted, or they are reluctantly using FHA and curse it’s mortgage insurance the whole time.

In this episode, Josh and Scott dig deep into the advantages, disadvantages, and alternatives of using this mortgage to buy your next home.



Links and Resources

Below you will find links to some of our most popular articles about FHA mortgages that expand on the points that we touch on in this conversation.

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About Your Expert

Scott Schang

As a 19 year veteran of the Mortgage and Real Estate industry, I am passionate about educating and empowering consumers. I have been writing about consumer protection issues, and making sense of complicated real estate and mortgage topics on this website since 2007

Leave a Question or Comment About this Topic

  • Nathalie Butler says:

    Is it true that FHA will allow IBR payments to be used when applying for home loans?

    • Scott Schang says:

      Hi Nathalie,

      As of today, FHA requires that the payment be fully amortized to pay off at the end of a fixed term. You cannot use your IBR payment when calculating your debt to income ratio for a FHA loan. You have to either use a fully amortized payment, or 1% of the balance of the loans.

      Fannie Mae and Freddie Mac conventional underwriting guidelines will both allow you to use your IBR payment.

      If you would like an introduction to a lender that has experience with these guidelines, feel free to shoot me an email to scott@findmywayhome.com and I can make an introduction.

      Hope this helps?

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