Many potential buyers and mortgage lenders have long complained about what they consider to be tight restrictions on condo related FHA mortgage financing. In an attempt to expand financing options for borrowers purchasing condos the Federal Housing Administration announced changes that make it easier to obtain FHA financing for condos. The new guidelines, as detailed […]
FHA Eases Guidelines on Condo Loans
November 13, 2015 Filed Under: Benefits of FHA Mortgage, FHA Condo Loans, FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA property
Four Tips On How To Avoid FHA Foreclosure Rescue Scams
August 15, 2012 Filed Under: FHA Foreclosure Help, FHA loan, FHA mortgage
Borrowers with FHA loans have the highest delinquency and default rates. Many analysts blame extremely liberal FHA underwriting policies, very low down payment requirements and seller concessions. Other factors that contribute to a default rate of almost 10% on FHA mortgages are slow income growth, high unemployment and declining home values. Regardless of the causes […]
List of FHA Foreclosed Homes For Sale Reveals Bargains For Homebuyers
July 20, 2012 Filed Under: Benefits of FHA Mortgage, FHA 203(k) Loan, FHA loan, FHA mortgage, FHA Mortgage Basics, FHA property, HUD foreclosed homes
The FHA is swamped with foreclosed homes that they are trying to sell nationwide. Single family homes foreclosed on by the FHA are being sold through the U.S. Department of Housing and Urban Development (HUD). Since holding an empty house is an expensive proposition for a lender, HUD is a motivated seller. Accordingly, many single […]
FHA Fixed Mortgage Rate Of 2.75% Possible By Year End
July 19, 2012 Filed Under: FHA loan, FHA mortgage, FHA refinance
How low can mortgage rates go? A few short years ago, borrowers who were able to refinance in the mid to low 5% range thought they would never have to refinance again. Little did anyone realize during the housing boom years that the subsequent crash in housing prices would result in mortgage rates lower than […]
FHA’s 75% Increase In Mortgage Insurance Premiums May Hurt Housing Sales
April 13, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA Mortgage Basics, FHA Mortgage Insurance
After the implosion of Fannie Mae and Freddie Mac in 2008, the FHA was seen as the savior of the housing industry. Liberal underwriting guidelines combined with a low down payment requirement made FHA financing the preferred choice for many home buyers. As a result, the FHA’s share of total mortgage lending soared to almost […]