Home Loans 101 Series – FHA Loan Basics
FHA Loan Basics
In this episode, Rob and Adrian talk about FHA Loan Basics in the Home Loan 101 Series. An important loan option in the home lending series. Let us know what you think! With over 25 + years of experience as licensed real estate professionals, and a long track record of winning for their clients, Rob and Adrian will teach you what it takes to be an everyday real estate millionaire. Don’t forget to subscribe, rate, and review!
Rob & Adrian
Hi, future millionaires. Welcome back to the Get Rich Slow podcast. I’m your Co-host Adrian Schermer joined by the Rob Delavan. Hi Rob, how are you doing today?
Good morning. Just peachy.
Excellent. Today we’re going to have a pretty quick one. Today we’re going to do a little bit of an overview on what an FHA Loan is. What it’s used for. And what it does. And why people get them.
So let’s dive right into this. Rob, I know we’ve worked with a bunch of first-time home owners and this is a real common program for folks that are buying their first home and it’s also a common fix to problems.
And that’s what I want to dive into because there are, these “old wives tales” or “rules of thumb” where people think “that’s the first loan I have to get,” and it’s not necessarily true. In all honesty, it’s often a fix to a problem than it is a stepping stone to where you really want to go.
So, let me jump-in and start by asking you what are those “what is it” questions? Then we’ll get to the “why” and “how” and band-aids with “why-not.”
So, let’s pretend I’m the one in the room that doesn’t understand loans and hit me with “What is a FHA loan” and “How does that differ from a standard conventional loan?” And then follow-up with “Why.”
Sure. Let’s start with “What is the FHA”…