Sarasota & Charlotte County home buyers looking for a minimum down payment mortgage, look no further than FHA. Did you know in 2024 FHA loans still only require only 3.5% down payment? First, let’s look at the background of the Government-backed FHA loan program. it’s important to understand that FHA …Read More
FHA Home Loan News, Tips & Information
New 2024 FHA Loans Limits Announced
FHA has released the new 2024 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 2024, the FHA mortgage limits were set to $498,257 for a …Read More
New 2024 FHA Loan Limits
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
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
Chattanooga Jumbo Financing & Home Price Outlook 2024
Chattanooga home prices have seen a strong increase in recent years, and they are projected to rise even more in 2024. In fact, a new report shows Chattanooga housing prices will rise more than any other metro area in Tennessee. The area has shown robust growth over recent years and …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
Oklahoma Jumbo Financing Options
Recent data regarding median home values in Oklahoma City show an affordable $199,000 in 2023. This is up 13% from last year. Throughout the greater metropolitan area, including Moore, Norman, Midwest City, and Edmond, the median value falls somewhat lower to $150,000. This is significantly higher compared to 10 years …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
5% Down Payment Jumbo Virginia
Good news for homebuyers purchasing luxury properties around Richmond, Arlington, Virginia Beach, etc, that exceed the standard conventional and FHA loan limits. 5% down payment jumbo loans are once again available through select lenders and banks in Virginia. Qualified buyers can now finance up to 95% LTV for loan amounts up to …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