The Federal Housing Administration (FHA) announced today the maximum loan limits will increase in 2024. The loan limit in lower-cost areas will be $498,257 or about 65 percent of the national conforming loan limit of $766,550. In high-cost areas, the limit will be over $1,000,000. Approximately 82% of U.S. counties …Read More
FHA Home Loan Information
Brevard County FHA Loan Mortgage 2024
Brevard County homebuyers can still purchase a home today with a minimal down payment. In fact, FHA loans still permit up to 96.5 financing. FHA continues to adjust its mortgage guidelines for Brevard County First Time Home Buyers as well as FHA Refinance borrowers. Listed below are a few things …Read More
FHA Announce Reduced Mortgage Insurance Costs for 2023
HUD recently announced the Federal Housing Administration (FHA), will reduce its annual mortgage insurance premium by 0.30 percentage points 0n March 20th from 0.85% to 0.55% for new home buyers financing above 95% The FHA mortgage insurance premium (MIP) fee is the monthly fee that homeowners with FHA-insured loans pay …Read More
FHA 203(h) Loan For Home Rebuild-Replacement
The FHA Section 203(h) program allows The Federal Housing Administration (FHA) to provide home financing to victims of a major disaster who have had their homes substantially damaged or flooded. Hurricane Ian recently devastated Florida from coast to coast. Naples, Fort Myers, Key West, all the way to Orlando, and …Read More
FHA HUD $100 Down Program
The FHA loan program has helped millions of buyers unlock the door to homeownership over the years through minimum down payment mortgage options. With the recent housing market crash about five years ago, options for 100% home financing have pretty much evaporated. In fact today there are only a few …Read More
Big Boost To FHA Home Buyers With Student Loans
Some great news was recently announced for home buyers that have student loans. FHA along with the Biden administration is easing FHA lending rules to give borrowers that have student loans a better chance of qualifying for a home loan. The Federal Housing Administration (FHA) announced changes to its student …Read More
FHA Loan Guidelines Self Employed Buyers
Home buyers are required to provide proof of employment as well as income to qualify for any conventional or government-backed (FHA) mortgage today. This is accomplished in two different ways, with paycheck stubs and W2s and the lender sending a Verification of Employment, or VOE form, to the individual’s employer. …Read More
Can a Co-Borrower Help You Qualify For Mortgage?
Sometimes you just need a little help. When thinking about buying a home, you want to make sure you can afford the new monthly payments. To do this, you need to speak with a mortgage loan officer. With just a brief conversation over the phone, you can get an update …Read More
Four Things to Avoid When Applying For Mortgage
Buying your very first home is a combination of a little excitement and anticipation. You can do all the research you want but until you get ready to take the leap and speak with your loan officer, you’ll soon discover there’s probably a bit more to it than just filling …Read More
Financing Energy Efficient Improvements
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