Tag: purchase loans
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 […]
Demand For More Housing
Mortgage rates are low, down payments are low, and the demand for more housing is high, boosting builder confidence. According to the a survey from National Association of Home Builders (NAHB), the demand for housing is on the rise nationwide. As of November, builder confidence rises four points and Single-Family constructions were up 4.2% topping […]
Freddie Mac: U.S. Housing and Economic Outlook 2015
2014 is coming to a close, what does this mean for rates? Where will they go? According to Freddie Mac, we may see a rate increase in 2015. It is definitely not the time of year to procrastinate on taking advantage of today’s low rates, whether it be refinance or a new mortgage purchase. As […]
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 […]
September Mortgage Loan Origination Overview
Obtaining a mortgage purchase loan is as easy as pumpkin pie! According to Ellie Mae’s Third Quarter Loan Origination Insight Report Purchase loans are seeing more action than Refinance loans. 32% of loans originated had a FICO score below 700 and the average score in the third quarter this September was 726. This proves that […]
