Besides worrying about whether or not the mortgage loan application will be approved, FHA borrowers also need to worry if they are dealing with a reputable FHA lender. There are serious pitfalls and consequences from dealing with a “rogue” FHA lender. A borrower applying for FHA financing needs to invest significant time and money applying […]
How Can An FHA Borrower Select A Reputable FHA Lender?
Streamline FHA Refinance Can Reduce Monthly Mortgage Payments
The FHA has a special refinance program that can reduce a homeowner’s monthly mortgage payment. Under the FHA Streamline Refinance program, a borrower is allowed to refinance to a lower rate with greatly reduced documentation requirements and easier underwriting rules. The FHA Streamline Refinance program has certain eligibility requirements, as follows: The borrower must already […]
Five Things Your FHA Lender Won’t Tell You
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 […]