Minimum Down Payment, Maximum Sellers Assist Series 3 of 5: FHA Loans
Monday, 09 May 2011
FHA LOANS (FEDERAL HOUSING ADMINSTRATION) FHA loans are loans that are underwritten by direct endorsed FHA lenders and underwriters to meet FHA credit, borrower, and minimum property requirements (1 to 4 unit owner occupied properties). In exchange, FHA/HUD provides explicit government guarantee on the loan in the form of Mortgage Insurance (MIP). FHA loans have
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Who can be on the title-refresher?
Tuesday, 12 April 2011
The following is a guide for borrower/title relationships allowed for conventional, FHA and VA loans. CONVENTIONAL Loans: • There does not need to be any relationship between occupant borrowers on a loan. • A person may be in title without being a borrower on the loan. • There should be a documentable relationship between borrower
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Senate Approves Higher Government Mortgage Fees
Wednesday, 11 August 2010
Higher monthly fees are in the near future for consumers who take out home loans guaranteed by the Federal Housing Administration, the primary source of mortgages for first time homebuyers. The Senate unanimously approved legislation giving the FHA the power to hike monthly premiums it charges to consumers. The measure now goes to President Barack
- Published in Home Buyers
HUD Homebuyer Tools
Wednesday, 16 June 2010
Buying a home is a big investment and having tools to make the process easier is now at your fingertips. There is a new, quick and easily accessible HUD website to see if a given Condominium is FHA approved or not. Click on the link and then search by zip code to see if a
- Published in Home Buyers
Interest Rates on FHA loans keeps declining!
Tuesday, 15 June 2010
It’s Seems that everything is inflating these days, except INTEREST RATES on FHA LOANS! FHA loans are not just for hard to qualify homebuyers, but everyone should consider an FHA loan, here’s why: Today’s FHA 5/1 ARM hovers around 3.5%. This is a fixed rate for 5 years! After 5 years, the annual interest rate
- Published in Home Buyers
HUD Temporarily Lifts 90 Day Waiting Period Rule On Flips
Thursday, 28 January 2010
As of February 1, 2010, HUD has temporarily relaxed the 90 day flipping restriction on FHA loans, subject to a given purchase transaction meeting the requirements as follows: All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction. The seller holds title
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