closedfamilyHUD Reduces the Cost of FHA Loans.   Like the cost of oil the cost of FHA loans is falling. In its first mortgagee letter of 2015, HUD announced that the monthly premium on 30 year fixed rate loans will go down by ½ of a percent (50 bps), starting n loans with FHA case numbers issued after Janu...
13.01.15 07:01 PM - Comment(s)
Many home underwater homeowners with FHA mortgages have not taken advantage of the FHA streamline refinance because their monthly mortgage insurance payment (PMI) would significantly increase due to HUD increasing the premium numerous times on FHA loans in the last 2 years.  Starting today many...
11.06.12 08:36 PM - Comment(s)
Yesterday HUD (FHA) released their monthly report for December 2010.  This report shows REO (Real Estate Owned / Foreclosed properties) up 9.5% from November. Combined REO for for Fannie Mae Freddie Mac & FHA was at 293,171 units at the end of 3rd quarter for 2010.  Fannie Mae & F...
23.02.11 05:18 PM - Comment(s)
Considering an FHA loan to buy or refinance a home? If so you should move fast. HUD has announced new annual FHA mortgage insurance premium (MIP) rates starting April, 2011. This means that the initial payment on FHA mortgages will feel like the note rate has increased .25%. These new monthly premiu...
16.02.11 05:54 PM - Comment(s)
FHA announced the extension of the anti-flipping wavier through the end of 2011.  This will help stabilize the market and make financing foreclosed homes easier. . FHA regulations typically prohibit insuring a mortgage on a home owned by the seller for less than 90 days.   FHA today poste...
31.01.11 04:59 PM - Comment(s)
The House and Senate both approved H.R. 3081 which included the extension of the increased conforming loan limit in high cost areas. This extension covers conforming loans limits that are backed by Fannie Mae, Freddie Mac and FHA (Federal Housing Administration) and will be in effect through the ne...
02.10.10 05:26 AM - Comment(s)
Considering an FHA loans to purchase or refinance your home.  Contact your Loan Officer prior to October 4th.  We've been talking about, The new hidden price on FHA loans that is equal to a rise in the mortgage interest  rate of one-third of one percent.  This may make the diffe...
30.09.10 05:15 PM - Comment(s)
Yes many home owners who owe more on their homes than the value of their homes are able to refinance at today’s low mortgage rates.  FHA streamline refinances are available without requiring an ap praisal and without documenting income (employment is verified).  Also Fannie Mae is allowin...
17.08.10 03:29 PM - Comment(s)

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