Tag: MIP

FHA vs Conventional Loans

Conventional Loans are home loans that conform to the underwriting guidelines set by the Government Sponsored Entities, Fannie Mae and Freddie Mac.  In the past, conventional loans were only for elite borrowers that had 20% or more for their down payment. Times have since changed opening up great new programs for low to middle income… 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 »