Summary: Home buyers who are considering an FHA-insured home loan can download our brand-new, consumer-friendly handbook. It explains the program in layman’s terms, and is available in a convenient PDF format at FHAhandbook.com.
Early in 2014, the publishers of the Home Buying Institute and QualifiedMortgage.org began offering an e-book about FHA loans. The 65-page book was written specifically for home buyers and borrowers, as opposed to mortgage lenders. Among other things, it explains some of the new rules and other changes made to the FHA program in recent years.
The latest version of the book is now available as a free download. Readers can download the handbook in PDF format by visiting the book’s official website: www.FHAhandbook.com.
FHA Loans Popular Among Home Buyers
The Federal Housing Administration, a division of HUD, insures mortgages originated by lenders in the private sector. This insurance protects the lender against default-related losses and makes FHA loans different from “regular” home loans. Among other benefits, the program allows for a down payment as low as 3.5%.
In the wake of the U.S. housing crisis, the FHA’s market share skyrocketed. In 2005, before the housing market collapsed, these government-backed loans accounted for only 5% of the purchase mortgage market, based on dollar volume. In 2012, that number shot up to 27%, a dramatic increase fueled in part by stricter requirements on the conventional side of the market.
FHA market share has declined a bit since then. But it is still one of the most popular financing tools among borrowers in 2014.
This program is especially popular among first-time home buyers with limited funds, due to the low down-payment option. The 3.5% down payment is what attracts most borrowers to this program in the first place, as shown by a 2010 survey conducted by the Home Buying Institute.
Many Changes Over the Last Two Years
There have been many changes to FHA rules and requirements over the last couple of years. These changes were primarily the result of financial losses suffered by the Federal Housing Administration in the wake of the housing crisis.
The end result is that it’s harder, and more expensive, to obtain an FHA-insured home loan today than it was in the past. That’s why it is so important for borrowers to have access to current information about the program.
The Home Buying Institute’s handbook is updated several times a year, as new information becomes available. As a result, it is one of the most current handbooks of its kind and a valuable resource for borrowers. But unlike the official handbooks on the HUD website, it is concise and easy to read. In just 65 pages, this book gives home buyers a solid overview of FHA loans. It explains the pros and cons of the program, minimum qualification guidelines, and all of the major rule changes that took effect in 2014.
The official handbooks published by the Department of Housing and Urban Development are written for lenders, and therefore contain a lot of information home buyers don’t need (such as document filing and coding instructions). The handbook available through FHAhandbook.com was written specifically for home buyers. It is concise, clearly written, and full of current information about the program. The book focuses on qualification criteria for borrowers, application procedures, and other topics relevant to borrowers.
Home Buyers, Mortgage Shoppers Can Download the Book for Free
In May 2014, the Home Buying Institute launched a new website where home buyers and mortgage shoppers can download the book. To download the FHA Loan Handbook in PDF format, visit www.FHAhandbook.com and click the “download” button. No registration is required.
Real estate agents, mortgage brokers, and other housing-related professionals are encouraged to link directly to the aforementioned website. That way, their readers will always have access to the most recent version of the book (as opposed to a static downloaded version that may be outdated). The most recent version is always available at FHAhandbook.com.
In addition to offering the free book, FHAhandbook.com also has a growing library of articles and tutorials for home buyers. New articles are added every week to keep readers informed.
Share the Book With Your Readers
We encourage you to share the FHA e-book with your blog or website readers. The best way to do this is by linking directly to FHAhandbook.com. If you download a static copy and offer it through your website, it will eventually become outdated and less useful to your readers. The book is updated several times a year to keep up with changes to the FHA program. The latest version is always available at FHAhandbook.com. That’s why we encourage you to link directly to the source.
You may link to the website however you wish. Here is some sample code you can use.
Download the 2014 FHA Loan Handbook in PDF format, for free, by visiting: <a href="http://www.fhahandbook.com" target="_blank">FHAhandbook.com</a>
Disclaimer: The publishers of this website, and the author of this e-book, are not affiliated with the Federal Housing Administration, HUD, or any other government agency. We are independent housing researchers and writers. This handbook is not meant to replace the official FHA guidelines established by HUD. It is meant to complement those guidelines in a consumer-friendly way.