Federal Housing Administration (FHA) announced some lending changes. If you or someone you know is considering an FHA loan, some of these changes may affect you. Here’s a brief review of the major changes.
Increased mortgage insurance – The mortgage insurance premium (referred to as private mortgage...
The mortgage lending landscape changes a lot. Rates and guidelines are in constant flux, and it creates preparedness challenges for buyers that aren’t paying in cash.
The loan you get today won’t always be the loan you get tomorrow.
Because of how frequently bank rules are changing, it can be...
Posted by
yourmortgageplanner on Jan 9, 2010 in
FHA |
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FHA home loans are federal assistance mortgages made by lenders, and backed by the government. The FHA doesn’t make loans to homeowners — it insures loans made to homeowners by federally-qualified lenders.
By all accounts, FHA home loans are surging in popularity.
2006, FHA insured 3.3% of...
Posted by
yourmortgageplanner on Nov 10, 2009 in
FHA |
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Consider this a last call for FHA Streamline Refinances. Starting next Tuesday, the popular rate-lowering program gets strict on borrowers.
There’s 5 days left.
Under the current streamline refi guidelines, FHA homeowners have minimal program eligibility requirements.
FICO scores must be 620 or...
Posted by
yourmortgageplanner on Oct 26, 2009 in
FHA |
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According to the government, home values edged lower last month.
The Federal Housing Finance Agency‘s Home Price Index report shows values down by 0.3 percent from the month prior – the index’s first down month since April.
The Home Price Index is based on the value of homes financed...
Beginning November 17, 2009, the FHA will make it harder to qualify for its popular Streamline Refinance program.
Available exclusively to homeowners with existing FHA home loans, the streamline program is meant to help homeowners reduce mortgage payments as simply as possible.
As such, the program carries...
