Reduced Monthly Mortgage Insurance Rates for FHA Loans Starting January 27, 2017

UPDATE 1/20/17: This rate reduction was cancelled by the Trump Adminsitration. Click here for details. The beginning of the new year comes with some BIG news for first time home buyers. FHA announced reduced monthly mortgage insurance rates for FHA loans starting January 27, 2017. This will reduce monthly payments for FHA buyers or allow them to […]

Lower Fees for USDA Home Loans Starting October 2016

USDA loans are a great option for home buyers purchasing properties in rural and suburban areas. This program is offered by the US Department of Agriculture. It offers great features that extend home ownership opportunities to homebuyers who may otherwise not be able to purchase. If you are planning to use this type of mortgage for […]

New Refinance Program for Mortgages with High Loan-to-Value

Interest rates are low, but some homeowners still find themselves stuck with old mortgages due to their high loan-to-value ratios or other qualification issues. The Federal Housing Finance Administration made a big announcement last week that will help if you’re in this situation. Here’s a quick overview of this offering. About the New Refinance Program for Mortgages […]

HomeReady Mortgage Program Changes

The HomeReady mortgage program is a special program through Fannie Mae for low to moderate income families. Fannie Mae recently announced some changes to this program that may allow more home buyers to take advantage. Here’s an overview of the HomeReady Mortgage Program changes: Income Requirement Increases Income requirements are typically calculated based on a […]

Funding for USDA Home Loans Running Out

USDA Home Loans are offered in rural and semi-rural areas. There’s a misconception that USDA loans are only for farmers. In fact, they are used by many single-family home buyers who are not farmers but are simply buying homes in areas approved for USDA financing. This loan option is appealing primarily because it offers 100% […]

MIP Refund For FHA Refinances

If you have an FHA loan and are refinancing it with another FHA loan, it may be possible to get a partial refund on the MIP that you previously paid. The amount depends on how long you have had the original FHA loan. Here are some important details on the MIP refund for FHA refinances. […]

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