While there are many potential borrowers that think they are serving their interests best by calling places and asking for a rate or using a big name financial institution instead of a quality service mortgage lender perhaps there are better ideas out there. After reading through hundreds upon hundreds of comments regarding the current mortgage [...]
All potential borrowers have different things that they determine to be most important when searching for a mortgage. Many customers will be driven solely by the interest rate or funds needed to close, while others might be most concerned with less important evaluators like APR. While all of these are legitimate concerns and should always [...]
The Federal Housing Authority (FHA) was created during the Great Depression with the goal of improving housing standards and conditions, providing financing through insurance of home loans, and stabilizing the housing market. Despite the structural and technological changes the United States has gone through in the last three quarters of a century, the FHA has [...]
In an effort to open the White House to the American people, President Obama recently held his first online town hall discussion. Amongst the pressing issues addressed by the newly elected Commander in Chief, was continuing the American Dream of home ownership. In direct response to Americans’ fear of home loss, Obama discussed his plan [...]
Good news folks:
The Economic Stimulus Bill, President Obama’s plan, named the American Recovery and Reinvestment Act he recently signed into law temporarily raises the national loan limit on HECM reverse mortgages to $625,000!
This is very important for several reasons:
First, for homeowners who have properties with higher values, especially those with existing mortgage balances that exceeded currently [...]
As of January 1, 2009 the FHA minimum down payment changed from 3 percent to 3.5 percent. What does this mean in general, and what does this mean to the homebuyer?
FHA, or the Federal Housing Administration is a part of the U.S. Department of Housing and Urban Development (HUD). The program began during the Great [...]
With mortgage rates taking a tumble over the last few days, loan officers with customers who have an FHA insured mortgage have been calling frantically to get them locked in at a lower rate.
What is an FHA streamline?
FHA Streamline refinance is a program designed to give borrowers who already have an FHA insured mortgage the [...]
As conventional loan applications drop over 50% from the year to date it’s also clear that borrowers are RUNNING towards FHA mortgages as they seek to refinance out of costly adjustable-rate mortgages or take out purchase loans with low down payments. The Mortgage Bankers Association says applications for government-insured loans were up 133.9 percent in [...]
Everyone Is Finally Making The Switch From Toxic SubPrime to FHA!If I didn’t say it earlier I’ll say it now, I told you so! Okay, maybe I didn’t, but it’s obvious that FHA is the way to home financing you deserve and I think that as informed consumers you’d appreciate the news I’m about to [...]
The Benefits of FHA Insured Mortgage Programs We’ve all heard the popular saying “in a perfect world”, well in a perfect mortgage world a mortgage banker would be able to lend a borrower the money they need for a home and would be able to take care of the customer even if their credit [...]
