FHA Pool Requirements in Arizona

When a buyer purchases a property using an FHA mortgage in Arizona or any other state, the property being purchased must meet FHA's minimum property standards which are measured in general by three main standards: 1. Safety 2. Soundness 3. Security When a property has a pool, there are a few additional items that FHA appraisers look for AND require in order for the pool and the property to pass FHA"s minimum property standards test. FHA Pool Requirements An FHA appraiser will still … [Read more...]

Getting a Gift on an FHA Loan

Many Arizona FHA home buyers have everything they need except for the down payment required to purchase a home.  One of the great features of an FHA mortgage is that Phoenix area buyers are allowed to receive a gift from a family member. If a Arizona FHA home buyer is going to receive a gift for their down payment and/or closing costs, there are a few simple steps that FHA/HUD require every FHA mortgage lender take the borrower through in order for the gift funds to be allowed. FHA Home Loan … [Read more...]