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While the Federal Housing Administration (FHA) was not fully closed during the government shutdown, they were running on limited staff for the 16 days of uncertainty. Most FHA Lenders and Banks continued to process and fund FHA loans during this time which has created a backlog of FHA endorsements and questions from these companies. In response to undoubtedly hundreds of… Read more »
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Category: FHA Mortgage
The Government Shutdown and Home Loans for Homebuyers
Buying a home can have many challenges from critical underwriters to conservative appraisers however, on the long list of things that can go wrong with a home loan you would not expect a government shutdown to be a factor. As of 12:00 AM today on October 1st, 2013 the Federal government has now shut down… Read more »
TIME IS RUNNING OUT ON REDUCED MORTGAGE INSURANCE PREMIUMS
FHA loan are becoming more popular as families deal with the after effects of the major economic depression that we saw only a few years ago. With conventional mortgage being more difficult to qualify for with previous credit issue, FHA has become the go to mortgage program for U.S. Families. The Federal Housing Administration has… Read more »
INCREASE YOUR CREDIT SCORE WHEN APPLYING FOR A MORTGAGE
Mortgages have been a hot topic of conversation lately as rates continue to track lower and lower. People continue to refinance their homes at unprecedented rates and new home sales are also starting to pick up. People do not want to miss the golden opportunity which comes along with historically low rates. The only problem… Read more »
FHA MORTGAGE INSURANCE PREMIUMS TO GO UP APRIL 1ST!
Unfortunately, FHA has recently announced some change to the FHA mortgage insurance premiums for all new FHA loans starting April 1, 2013. It just seems as if FHA continues to raise the mortgage insurance premiums to try to get it back in line so the program remains self funding. Unfortunately, the reason behind these changes… Read more »
Can I have 2 FHA loans at the same time?
Having more than One FHA Loan You may be asking, Can I have 2 FHA loans at the same time? We have many clients that current own a home that they purchased using FHA financing and now, for whatever reason, want to upgrade their home and move into a new home. This process can be… Read more »
Should I get a FHA Loan or Conventional Loan?
When it comes to FHA home loans, there are many differences and advantages when compared side by side to conventional home loans. Starting with the most basic aspect of purchasing a home, FHA loans are different from conventional loans in that the down payment is much less. Down payment requirements for FHA home loans start… Read more »
FHA loan delinquencies on the Rise
In terms of the mortgage industry, things are starting to finally look up a bit, unless you are referring to the loans backed by the Federal Housing Administration (FHA loans). Delinquencies are up nearly 27% on FHA loans while conventional mortgages delinquencies have been steadily dropping. More and more of loans insured by FHA are… Read more »
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