June 13, 2024

Archives for February 2012

Will The FHA Need A Bailout? Congress Approves “FHA Emergency Solvency Act” As Loan Defaults Soar

Loan defaults at the FHA continue to soar according to the latest FHA Single-Family Outlook report issued by the FHA. The latest statistics on the FHA loan portfolio show that almost 18% of all FHA insured mortgages are 30 days past due or more.  The number of loans classified as seriously delinquent increased by 19% […]

A First Time FHA Home Buyer Asks “How Much Home Can I Afford?”

One of the first questions that a first time homebuyer seeking an FHA mortgage will ask is “How much home can I afford?”. It is widely known that banks have tightened underwriting standards in order to prevent homebuyers from purchasing a home that they cannot afford and winding up in default.  Although the prospect of […]

FHA Mortgage Rates And Rent To Own Ratio Are At All Time Lows

Historically speaking, there has never been a better time to purchase a home.  FHA fixed mortgage rates of about 3.75% are the lowest in history and have greatly contributed to lowering the cost of owning a home.  For example, the monthly mortgage payment on a home purchased for $150,000 with the minimum FHA down payment […]