Mortgage Programs
The Path To The Right Mortgage Product
Finding the right mortgage product doesn’t have to be a difficult task. Knowing the criteria that you must meet and being able to single out what you are looking to get out of your ideal property of interest and having the right information at hand prior to making a final decision may help open up […]
FHA Offers Lower Mortgage Insurance Premiums To New Borrowers In 2015
New FHA mortgage borrowers in 2015 will be offer a reduced Mortgage Insurance Premium (MIP). This is the first time that the Federal Housing Administration (FHA) has reduced its MIP for its borrowers since 2001. It has been a long time coming for many interested home buyers and millennials who have been hesitant on committing […]
How to Submit FHA Case Number Cancellation Requests
Just a week ago, the President made an announcement in regards to reduced FHA Mortgage Insurance Premiums (MIP) along with temporarily allowing for lenders to cancel case numbers on loans issued on and after January 26, 2015. FHA has reduced its Mortgage Insurance Premium (MIP) by as much as 0.50%, making it even more affordable […]
What Happened To The HARP Refinance Program 3.0?
Not long after the introduction of the Home Affordable Refinance Program 2.0, the Obama Administration announced plans of a HARP 3.0. So, when is the newer version of HARP 2.0 going to be released? Unfortunately, the discussion of a HARP 3.0 seem to have fallen short with no plans in the making. The Home Affordable […]
Conforming Loan Limits Released For 2015
Conforming loan limits for 2015 was released by the Federal Housing Finance Agency (FHFA) with little alterations. This is including (Federal Housing Administration) FHA home loans. Conforming loans are backed by the federal government and then sold to the secondary market as mortgage-backed securities. Loan limits are considered the maximum loan amount that the federal […]
Fannie and Freddie’s 3% Down Payment Targets First-Time Home Buyers
Real Estate Media Host, Frank Garay of National Real Estate Posts expands on the new programs at 3:19 While there are concerns of another mortgage crisis in the making and skeptical lenders questioning the likelihood of safe lending, Fannie Mae and Freddie Mac executives assure that the new 97% LTV program is safe-guarded enough. Encouraging […]
Conventional Interest Rates More Stable Than Its Home Prices
According to the Federal Housing Finance Agency (FHFA), mortgage interest rates during the month of October showed a 5 basis point increase for existing homes. Mortgage Interest rates newly built homes with a Conventional purchase loan on the other hand remains unaffected. The average effective rate for new home loans actually has been stable since […]
Basic Entitlement: VA Home Loan Awareness
The Department of Veteran Affairs (VA) encourages that all lenders must try and offer Veterans the VA mortgage loan, considering that there is a significant amount of benefits that veterans can take advantage of, including assistance in preventing foreclosure. This isn’t the case unfortunately, many veterans today have been taking advantage of Conventional loans not […]
Initial Steps Towards FHA Mortgage Insurance Premium Removal
FHA’s mortgage insurance premiums (MIP) are rising preventing you from being able to save for all your other financial obligations. It is time to take the initiative steps in having it removed, but first, there are a few steps and precautions you must take to ensure that the process can go smoothly. Before you put […]
Reverse Mortgage 101: Use Your Home to Stay at Home
Would your retirement be a lot better if you had extra income coming in? Reverse mortgages also known as HECM (Home Equity Conversion Mortgage) is one of today’s most beneficial loans available for all eligible senior homeowners. Homeowners across the nation are eliminating their monthly mortgage payments with the help of one loan, Reverse mortgage […]
VA Mortgage Interest Rates Leading Today’s Low
The momentum of a mortgage purchase is growing on eligible first-time home buyers and current homeowners who are searching for a 30-year and 15-year rates or looking to refinance their existing mortgage rates. VA mortgage interest rates are steadily dropping even lower according to Ellie Mae. Today’s mortgage interest rates are making FHA and VA […]
