Gifts and Grants can be considered towards borrowers funds on certain 3% down...
Yes, you read that right. I just got an email today from a leading mortgage insurance company that is willing to underwrite this loan. You will need at 740 or better score. But, what an opportunity. In...
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Insured Conventional Loan Vs FHA-Which Is Better
There are many factors that go into a loan decision-credit scores, down payment, debt ratios, etc. One big question is whether you should consider buying a home with an insured conventional loan using...
View ArticleFHA is INCREASING the upfront mortgage insurance premium in April
I just got the news flash. It is going from 1% to 1.75%. Also, the allowed seller contribution to a buyer’s closing costs MAY decrease to 3% from 6%. The closing cost contribution change is still up...
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What a Deal! Government got it right!!
A 30 year fixed-rate mortgage hasn’t always been the standard. As part of FDR’s New Deal in 1934, the Federal Housing Administration was created to help Americans purchase homes with affordable terms....
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FHA to Cost Borrowers More In The Future
FHA has announced a major change to its loan program which allows borrowers to cancel the mortgage insurance premium (MIP) when their unpaid balance reaches 78% of the original purchase price. While no...
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