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FHA High Balance Guidelines General Description: FHA Fixed Rate principal and interest level payments for the life of the loan. Follow published FHA guidelines if item not addressed below. Lenders
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FHA high balance guidelines refer to the specific requirements and restrictions imposed by the Federal Housing Administration (FHA) for high balance loans, which are loans that exceed the standard loan limit set by the FHA.
Lenders and mortgage brokers who originate or handle FHA high balance loans are required to adhere to and file FHA high balance guidelines.
To fill out FHA high balance guidelines, lenders and mortgage brokers need to follow the instructions provided by the FHA, which include providing accurate information about the borrower, property, and loan terms, as well as any additional documentation required by the FHA.
The purpose of FHA high balance guidelines is to ensure that lenders and borrowers comply with the FHA's standards for high balance loans, promoting responsible lending practices and protecting the interests of both borrowers and lenders.
FHA high balance guidelines require the reporting of various information, including the borrower's financial details, employment history, credit score, property appraisal, loan amount, interest rate, and other loan terms.
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