Whether buying or refinancing, there are options that allow borrowers to make energy efficient upgrades with their homes. Whether it’s for a new HVAC system or something as simple as replacing inefficient windows with thermal ones, there are ways to leverage today’s mortgage rates and finance the costs of these …Read More
FHA Home Loan Information
FHA or VA Loan the Better Choice For Mobile Ala Home buyers?
Mobile, Alabama, the county seat of Mobile County, is Alabama’s only saltwater port and the hub of its economic engine. The Port of Mobile was originally an important trading post between the French who colonized the region and the local Native Americans. Today, it’s the 12th largest port in all …Read More
Tips For Purchasing Your First Home
Purchasing your first home is one of the most important financial decision you ever make. Once the crucial decision to go ‘home shopping’ has been made, you will realize that there is a host of options and simply going through the different alternatives may turn out to be an experience …Read More
FHA Loan Limits For 2018
FHA has published the latest loan limits for 2018. The FHA’s floor is currently set at 65% of the national conforming mortgage limit, which recently increased from $424,100 to $484,350 for 2018. As a result, this increases the FHA limit $275,665 to $294,515 in most counties nationwide. The FHA high-cost limits …Read More
FHA 203(h) Loan For Home Rebuild-Replacement
The Section 203(h) program allows The Federal Housing Administration (FHA) provide home financing to victims of a major disaster who have had their homes substantially damaged or flooded. 2017 has been a devastating Hurricane season, Harvey in Texas, Irma in Florida and Hurricane Nate on the Gulf Coast. FHA 203h …Read More
FHA Loan Guarantee Fee Explained
There are two primary types of mortgage loans available in today’s marketplace- conventional and government-backed. Conventional loans are those made by lenders who assume the risk of the mortgage loan and are not compensated in any way should the loan eventually go into default. Government-backed mortgages do have a degree …Read More
First Time Buyers FHA Loan Program
First time home buyers should check out the FHA mortgage option. Why? There are a few good reasons why more buyers select the FHA loan compared to any other mortgage loan. While the FHA loan isn’t reserved for first time buyers, any approved home buyer choose the program. Underwriting criteria …Read More
History of FHA Home Loans
Ever wondered how the Federal Housing Administration “FHA” was created? It really has quite a history and some could even claim it helped move the country out of the Great Depression. Back in 1934 the United States government created the National Housing Act of 1934 to help stop the wave …Read More
FHA Mortgage Insurance Explained
There are two primary types of mortgage loans available in today’s mortgage marketplace, VA, USDA, and FHA all fall into the government-backed category. Conventional loans are a little different due to the fact that the bank assumes the risk on a loan with no government backing. Government-backed loans will compensate …Read More
Buyers Tax Returns: What FHA Lenders Require
Whether you’re self-employed or you have an employer, FHA loan guidelines require the lender to review recent federal income tax returns. Even if you get paid the very same amount on the 15th and 30th of each and every month, you can expect to be asked for copies of your …Read More