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 Home Loan News, Tips & Information
FHA Loan Limits For 2018
UPDATE: Please see new 2019 FHA Loan Limits here. 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 …Read More
FHA 203(k) Loan Program Requirements 2018
The Federal Housing Administration first introduced the FHA home loan program back in 1934. Prior to this time, there really were no universal lending guidelines banks could follow. Instead, banks could issue a loan to buy a home under most any standards they deemed necessary. Down payment requirements for most …Read More
FHA 203(h) Loan For Home Rebuild-Replacement
The Section 203(h) program allows The Federal Housing Administration (FHA) provides 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
Massachusetts VA Purchase & Jumbo Loan
Countless veterans and active military personnel are eligible for 100% VA financing in Massachusetts. Even though some veterans may have already used their VA home benefits in the past, they can still use the program again by utilizing remaining or restored loan entitlement. Below we will discuss all the basics for the …Read More
Oregon FHA Mortgage Requirements, Loan Limits
First time home buyers often face challenges not seen by more seasoned homeowners. The FHA mortgage allows these borrowers with less robust qualifying standards a chance to still obtain financing for their home purchase in Oregon. FHA Loans offer more “common sense underwritten” and the main thing they want to see is that …Read More
VA Jumbo Loans For High Cost Homes
VA has permitted Jumbo size home loans for quite a while now. However, many Veterans are still unaware of the program requirements and benefits. This program is available to approved Vets nationwide, not just exclusive high costs locations in Florida or California. If you are a Veterans with sufficient entitlement, it’s worth …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
Conforming and Jumbo Loan Limits Arizona
Home loan limits at first glance may seem a bit confusing, especially for those preparing to buy their first home. In Arizona, whether the property is located in Phoenix, Tempe, Flagstaff or Scottsdale, the current conforming loan limit for 2019 is $484,350. For amounts larger than $484,350, these loans are …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