Are you gearing up to buy your very first home? We’re heading into home buying season and before long the next thing you know you’ll be living in your brand new home. Buying a home and getting a mortgage is a brand new adventure for many, so to make the …Read More
FHA Home Loan News, Tips & Information
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
FHA Mortgage Insurance Premium Reduction Canceled
On his first day in office, the Trump administration announced it was suspending the FHA mortgage insurance premium (MIP) reductions that had been set to take effect this month. A reduction in the FHA’s annual mortgage insurance premium had been scheduled to take place at the end of the month. …Read More
FHA Loans Only 3.5 Percent Down Homestead Florida
For those that are not VA home loan eligible but still want or need a mortgage loan that requires as little cash as possible, the FHA loan should be a likely candidate for properties located in Homestead, Florida or Miami-Dade County. Back in 1934, in an effort to jump start …Read More
FHA Loan Requirements for Austin, TX and Travis County
FHA loans were first introduced into the mortgage lending marketplace back in 1934 in an attempt to establish standard guidelines banks could follow that also came with a government-backed guarantee. Prior to this introduction, lending guidelines were essentially all over the map and many potential homeowners were left out of …Read More
2017 FHA Mortgage Insurance Costs Reduced
HUD just announced a reduction to FHA’s monthly mortgage insurance premiums (MIP) The FHA is reducing its annual mortgage insurance premium by 25 basis points for most new mortgages with a closing or disbursement date on or after Jan. 27, 2017. The new rates are projected to save new FHA-insured …Read More
North Carolina FHA Loan Guide
An FHA insured mortgage is a home loan guaranteed by the United States Federal Housing Administration and processed by an FHA approved lender or banks. The Federal Housing Administration loan program started in the 1930s during the Great Depression. The goal of the program was to try to protect lenders and home …Read More
2017 FHA Loan Amount Limit Florida
The government backed FHA home loan is guaranteed by the United States Federal Housing Administration (FHA) and provides a number of homeownership opportunities with little down payment required. Started over 80 years ago, the FHA is the largest government insurer of home loans in the US today. The government backed …Read More
VA IRRRL: Inside VA Streamline Refinance
If you’re eligible for the VA home loan program, you have access to perhaps the best mortgage for those who want to finance a purchase without any down payment along with restricted closing costs. Who qualifies? Veterans of the armed forces qualify as do active duty personnel with at least …Read More