FHA loans are a popular program for first time home buyers for their low down payment requirement and the ability to use gifted funds for down payments. For many buyers, FHA is the only program for which they qualify. The downside is, there are limits to amount that can be borrowed. Fortunately, FHA loan limits […]
FHA PMI Rate Reductions Cancelled
We were so happy to announce a few weeks ago that the FHA monthly PMI rates were going to drop later this month. However, an important change has taken place. Last Friday, the Trump Administration announced that FHA PMI rate reductions were cancelled. A Freeze to All Pending Regulations The White House issued a memo freezing […]
Preparing for FHA Appraisals
Preparing for FHA appraisals involves addressing certain property deficiencies that do not meet HUD property safety guidelines
Eliminating Mortgage Insurance From FHA Home Loans Issued Before June 3, 2013
Important details on Eliminating mortgage insurance from FHA home loans issued before June 3, 2013 – shared by Christopher Graves at Sierra Pacific Mortgage Company