Tag: federal housing administration

Reduce Your Michigan Mortgage Rate with an FHA Streamline Refinance

Michigan FHA Streamline refi

The FHA Streamline Refinance program is available for Michigan homeowners looking to save on interest payments. This program allows you to refinance to today’s low rates without the need for a new appraisal, making it ideal for homeowners with little or no equity. You may qualify for a mortgage refinance to reduce your rate by… Read more »

Buy A House with a Small Down Payment

If you are a first-time homebuyer, getting a mortgage may seem overwhelming — especially with all the different options available. Maybe you don’t have a lot of money for a down payment or your credit isn’t great. The good news is, you can still qualify for a home loan. Here are 4 low or no… Read more »

FHA Lowers Mortgage Insurance Premium

FHA Lowers Mortgage Insurance Premium Great news for homebuyers considering an FHA home loan or FHA refinance! The popular mortgage program is getting even better. The Department of Housing & Urban Development announced this morning that the FHA will be decreasing their annual mortgage insurance premium by a quarter of a percent. The upfront guarantee fee… Read more »

Conforming Loan Limits Increased

As home prices across the country continue to rise, the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration (FHA) have announced increases in conforming loan limits for 2017. For the first time since 2006, the FHFA has increased the maximum loan limit for conventional loans through Fannie Mae and Freddie Mac from $417,000… 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 »

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 »

FHA Streamline Refinance Premiums Dropping

There was a bit of speculation recently after an announcement from the Federal Housing Administration (FHA) stated their insurance premiums would be rising.  The speculation was that premiums regarding the FHA Streamline Refinance program would be dropping.  Well it seems that is the case.  Homeowners with mortgages backed by the FHA will now face premium… Read more »

Changes Coming to FHA Premiums

You know those nasty premiums that come along with mortgage loans?  Those ones that everyone hates to deal with.  Yeah, well I think you’re about to hate FHA (Federal Housing Administration) premiums even more.  FHA Acting Commissioner, Carol Galante, made an announcement regarding their current premium points.  It appears the “basis” points” will soon be… Read more »