FHA has released the new 2021 loan limits for this year. Nearly all counties across the nation saw an increase as expected. This is great news for homebuyers utilizing FHA financing as now their borrowing potential is higher. For 2021, the FHA mortgage limits were set to $356,362 for 1-unit …Read More
FHA Home Loan News, Tips & Information
Low Down Payment Mortgage Options North Carolina
Homebuyers purchasing a new home in North Carolina typically use the proceeds from the sale of their current home as part or all of their down payment. But if you are a first time home buyer? In this case, you will need to think about your down payment and closing …Read More
FHA Loan Interest Rates July 2020
FHA home loan interest rates for July 2020 are staying near all-time low levels. Many lenders and banks are offering 3.0% – 3.375% for a standard 30-year fixed FHA mortgage. This rate assumes no added discount points. Of course, borrowers always have the option to “buy down” their interest rate …Read More
Mortgage Payment Forbearance or Refinance – What is the better choice?
Since the recent outbreak of COVID-19 there has been a lot of talk about new mortgage forbearance programs. What exactly is mortgage loan forbearance and should you apply for this? Forbearance is not a forgiveness of your loan obligation, but more an extension of your loan term. Under the Federal …Read More
Florida FHA Refinance Rates – Historic Low Levels
It’s no secret that mortgage rates overall have been very low in recent years. However, rates have decreased further in the last month due to the recent economic challenges brought on my COVID-19. FHA refinance rates, and all rates for that matter, have been bouncing off history low levels. April …Read More
FHA Home Loans Naples, Background and Credit Qualifying
The FHA mortgage program was created way back in 1934, Back then, lending guidelines were far from universal and many banks would require 30%+ percent or more for a down payment. Buyers also had to have a standing relationship with the bank. Mortgages years ago would be for a relatively …Read More
3 Ways Millennials Can Invest in Rental Properties
Investing in real estate is back. In fact, a lot of real estate investors have made quite a bit of money scooping up properties at pennies on the dollar at real estate auctions and foreclosure sales. Many of those bargains are long gone but investing in real estate has not. …Read More
2021 First Time Buyer Programs Florida
Mortgage interest rates have remained near all-time low levels and have continued to make home-buying more affordable. More Florida first time buyers are seeing the advantages of buying a home and building equity versus renting. In this post below we look at the most popular 2021 first-time buyer programs in …Read More
2021 FHA Loan Limits Announced – Increase For Most
Some good news from the Federal Housing Administration (FHA) today as they announced the new 2021 FHA loan limits. Most of the nation will see an increase, according to a new letter from HUD. FHA calculated 2021’s forward mortgage limits based on the median home prices in accordance with the …Read More
Florida Government Mortgages: FHA Vs USDA
We often get the question of which government program would be better, FHA or USDA? A quick search on the internet will give you a general view of each program’s benefits. Most of them suggest the USDA loan would be the better choice assuming you meet the two key eligibility …Read More