May 22, 2024

Archives for December 2010

FHA Mortgage Insurance – What Is It For And Why Does It Exist?

FHA mortgage insurance (MI) is an essential element of the FHA lending program.  Mortgage insurance provides an incentive for lenders to approve FHA loans and is instrumental in protecting the financial integrity of the FHA lending program by covering loan losses. The most common questions regarding FHA mortgage insurance are answered on the website of […]

FHA Mortgage Financing Is The Only Option For Many Borrowers

One of the primary factors when choosing between an FHA mortgage and a Conventional mortgage is based upon the amount of down payment required.  New home purchasers with less than a 20% down payment usually decides that an FHA loan is the most viable and cost effective option. Traditionally, mortgage borrowers who have less than […]

Understanding the Rules Before You Go House Hunting

An FHA mortgage provides first time homebuyers with the opportunity to get a home of their own at an affordable interest rate. The FHA does not finance these loans directly. However, they provide backing to lenders to ensure that if the homeowner defaults on the loan, the lender will not lose their money. While the […]