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 […]
FHA Mortgage Rates And Rent To Own Ratio Are At All Time Lows
February 1, 2012 Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage
Sometimes, FHA Financing Is Not The Best Option For Homeowners
January 30, 2012 Filed Under: FHA Down Payment Requirements, FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA Mortgage Insurance
FHA mortgage financing offers the benefits of low interest rates, relatively liberal underwriting guidelines and low down payment requirements. Sometimes, however, FHA financing is not the best option for a home buyer. One of the biggest drawbacks to FHA financing is the expensive mortgage insurance charged to borrowers. In addition to being charged an upfront […]
Why FHA Borrowers With FICO Scores Below 620 Can’t Get Approved
January 12, 2012 Filed Under: Benefits of FHA Mortgage, FHA Eligibility Requirements, FHA loan, FHA Minimum Credit Scores, FHA mortgage, FHA Mortgage Basics
FHA mortgage programs are the most lenient in the industry and borrowers with low credit scores have frequently had no other options except FHA financing. Current FHA guidelines state that borrowers with credit scores above 580 are qualified for FHA financing with only a 3.5% down payment. The reality, however, is quite different as very […]
Warning To FHA Borrowers – Avoid Fraudulent Forensic Loan Audits, Loan Mods And Foreclosure Scams
January 6, 2012 Filed Under: FHA Foreclosure Help, FHA loan, FHA mortgage
Falling behind on FHA mortgage payments has resulted in a nightmare scenario for many homeowners. The economic mess that our country has fallen into since the housing bubble burst in 2006 has produced the double disaster of unprecedented unemployment along with collapsing home values. Unfortunately, many delinquent FHA borrowers have had their financial misery compounded […]
Millions Of FHA Borrowers Have Negative Home Equity Which Often Results In Defaults
January 5, 2012 Filed Under: FHA loan, FHA mortgage, FHA property
Few things are more psychologically and financially damaging than the realization that you owe more on your home than it is worth. The real estate industry has forever advised potential buyers that you “can’t go wrong owing a home since prices always go up” – a myth that exploded as the housing bubble started to […]