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 Home Loan News, Tips & Information
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
Please see the new 2020 updates here. 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 …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
Oklahoma Jumbo Financing Options
Oklahoma Jumbo Financing Options: Recent data regarding median home values in Oklahoma City show an affordable $130,500. Throughout the greater metropolitan area, including Moore, Norman, Midwest City, and Edmond, the median value falls somewhat lower to $119,000. This is significantly higher compared to 10 years ago when the median home …Read More
5% Down Jumbo Loan California
5% Down Jumbo Loan California: Jumbo loans are defined as mortgages that exceed the standard conforming loan limits. The 2020 Conforming Loan Limit is currently $510,400 in most locations except for some higher-cost locations in California, where the limits can be just over $765,600. Jumbo loans typically require a larger …Read More
Texas FHA Home Loan Criteria
Texas FHA Home Loan Criteria: The Texas housing market is going strong with increased buying activity. More first time home buyers in Dallas, Houston, Austin, San Antonio, are now entering the market and looking for mortgage options that offer flexibility and manageable terms. The Federal Housing Administration is a mortgage …Read More