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Wednesday 19 February 2014

Criteria to get the Federal Housing Authority loans

FHA mortgages offer a wide range of benefits and consumer protection that conventional loans may lack. Some of the most attractive things about an FHA mortgage are the low down payment and more lenient credit requirements. FHA loans are, simply put, easier to qualify for than conventional mortgages.


FHA loans are insured by the Federal Housing Administration. FHA does not lend money or issue credit, so the first requirement of the FHA loan program is to apply for the FHA mortgage through a participating FHA lender.


When you apply for an FHA loan to purchase a new home, you’re required to submit detailed information on your existing credit, employment history, and current income.
FHA lenders evaluate this information based on something called “the four C’s”
  • Credit history
  • Capacity to repay
  • Cash assets available to close the mortgage, and
  • Collateral

According to the FHA, the lender must evaluate all FHA loan applications by:

  • Considering the type of income the borrower needs to qualify

  • Analyzing the borrower's liabilities to determine creditworthiness,

  • Reviewing debt‐to‐income ratios and compensating factors.

  •  After meeting the above criterion, you have the necessary requirement to get a loan pending the approval of he authorities.

Who needs a Loan Facility

First, we have to define what a loan facility is

A loan facility is a facility usually money borrowed that has to be paid back with an interest to the owner of the facility.

Before we continue on our series, we have to examine and find out who really needs a loan?

                                                     Who needs a loan?


Different people view different things different ways but why do many people prefer to go fo loans instead of the other available channels especially when it has to do with meeting their dreams.
                                                 A Good Homes




Before you go for a loan facility, you must make sure that you have somr thing doing to get money so that you can repay the loan at the specified time without stress.

The crucial question is  ''How do I intend to repay the Loan''

If you desire a good home, you must first know some indices, that your desired loan company users to calculate thier interset on capital, so that you can get the best from the facility you want to acquire.

Altenatively, you can use a loan repayment time calculator to deermine the duration of the loan so that you can plan effectively for the payment of the loan.

Therefore, you have to answersome questions within you before you know who really needs a loan or moreso, if you really need a loan facility.


Tuesday 11 February 2014

UK Home Loan Companies

United Kingdom is one of the biggest places to live in aound he world and indeed many counties crave o emulate the trends in the United Kingdom, but the question is
'Are the majorityof uk indegenes proud home owners'?

In a bid to find the right answer to this question, we try to consider the avarage income of workers in the country and match it with the cost of getting a dream home in the United Kingdom.

The result shows that an average English man, working in he United Kingdom cannot afford a dream home after paying his tax, bills and other expenses hat he incurs during the month or say per hours of work.

In a bid o help out, we survey the home loan companies and try o make a choice from what hey have to offer


The companies include but no limited to:

Bank of England

Bank of Wales

HSBC Bank

Bank of Scoland

Norton Finance

Crayons Loan


Bank of Ireland

and so on.

But the question on how to make the ight choice depends on many factors which I will give a full insight on my nex article.