Tag Archives: FHA

Great News for new FHA Loans – Reduced MI Coming

With the improved quality of FHA loans currently being underwritten many have been calling for FHA to lower their MI premiums and it looks like our voices have been heard. We just found out U.S. President Barack Obama is set … Continue reading

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Good News for FHA Borrowers

WASHINGTON – Aug. 27, 2014 – Last week the Federal Housing Administration (FHA) announced that borrowers who prepay their FHA-insured mortgages will not have to make interest payments beyond the date their mortgage is paid in full. It’s about time … Continue reading

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My Thoughts for the Week of Sept 30, 2013

More political calamity is dominating our news as a Government shutdown looms over us today. With both sides pointing fingers and unwilling to compromise the shutdown is looking very possible, something I’ve been thinking would not happen. It’s hard to … Continue reading

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5 Reasons Why NOW is the Time to Buy a Home

Many potential buyers are still waiting in the wings, not sure that now is the time to buy a house.  They are often afraid of buying before the market has fully recovered, and are concerned that they may lose out if they jump in … Continue reading

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FHA Reduces MI Premiums on some Streamline Refinances

FHA recently announced decreased fees for single family mortgage insurance premiums for loans endorsed on or before May 31, 2009 and a new FHA case number assigned on or after June 11, 2012 for streamline refinances. New FHA Mortgage Insurance … Continue reading

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FHA about to tighten guidelines regarding credit collections

Beginning April 1st, home buyers with ongoing credit disputes over $1,000 will no longer be approved for a mortgage backed by the Federal Housing Administration. Buyers with collection accounts will either have to pay the debt off or enter into … Continue reading

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FHA announces decrease in Mortgage Insurance Premiums for certain Streamline Refi’s

This is great news for FHA borrowers who have been unable to participate in Streamline Refinances because the new higher annual MIP eroded any potential savings from a lower interest rate! Tuesday, Acting Federal Housing (FHA) Commissioner Carol Galante announced … Continue reading

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The Low Down on the April 9th FHA Mortgage Insurance Increase

Beginning April 9, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers throughout the country. It’s the FHA’s fourth such increase in the last two years. Beginning April 9, 2012, upfront mortgage insurance premiums … Continue reading

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How does NO MIP on an FHA Purchase/Refi sound?

While this program may not work for everyone, there are buyers out there who should be taking advantage of this. Here’s the deal: Purchase transactions on FHA 15 year loans where the borrower can put 10% down will have no … Continue reading

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FHA to Raise Premiums–Especially For Jumbos

If you’re thinking about applying for a FHA loan or a Streamline Refi, now’s the time to start and get your new FHA case number pulled before the MIP is raised again. The Federal Housing Administration will “soon” increase its … Continue reading

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