For many years, owning a home was the culmination of the American dream. Besides the emotional satisfaction of ownership, it was assumed that housing prices could only go up. It became an unchallenged belief that buying a home was always a wise decision. The housing collapse that started in the 2008 has now made the decision […]
Five Things Your FHA Lender Won’t Tell You
August 3, 2011 Filed Under: FHA mortgage, FHA Mortgage Basics
FHA Disclosures Forms To Become Less Complicated
July 27, 2011 Filed Under: Benefits of FHA Mortgage, FHA mortgage, FHA Mortgage Basics
In the aftermath of the financial crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new Act instituted the most comprehensive changes to the financial system since the 1930’s. One of the major objectives of the new Act was to protect consumers from abusive practices by the financial industry. To accomplish […]
Fast Track To FHA Loan Approval
July 15, 2011 Filed Under: FHA mortgage, FHA Mortgage Basics
Many people begin their search for a new home on the internet. Online searches are an efficient way to view property listings as well as determine the price range for different homes in your area. Once a home buyer has decided it is time to buy, one of the next first steps involve selecting a […]
Why You Should Always Pay Off An FHA Mortgage At The End Of The Month
July 7, 2011 Filed Under: FHA mortgage, FHA Mortgage Basics
Many FHA borrowers are needlessly paying extra interest charges by paying off an FHA mortgage before the end of the month. The reason behind the extra interest charges is due to the method by which the FHA calculates the final interest charges due on an FHA loan payoff. For all other types of mortgages that […]
FHA Caps On Borrower Closing Costs Paid By Sellers
July 6, 2011 Filed Under: Benefits of FHA Mortgage, FHA mortgage, FHA Mortgage Basics
One of the benefits of FHA financing is the ability of home buyers to have the seller pay for certain closing costs. The FHA allows sellers to pay specified closing costs, subject to a percentage limitation, on behalf of borrowers. The ability of home buyers to obtain seller concessions is one of the major benefits […]