Since being created by Congress in 1934 the Federal Housing Administration (FHA) has insured over 34 million mortgages on single family homes. The low down payment requirement and relaxed credit standards of the FHA have allowed millions of people to achieve the dream of home ownership. While the advantages of an FHA mortgage are compelling […]
How Many Years Will I Pay FHA Mortgage Insurance? The Answer May Surprise You
December 1, 2015 Leave a Comment Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage, FHA Mortgage Insurance
FHA Purchasers Immediately Have Negative Equity – The Buying Dilemma
May 15, 2012 Filed Under: Benefits of FHA Mortgage, FHA Down Payment Requirements, FHA loan, FHA mortgage, FHA Mortgage Insurance, FHA property
Most first time home buyers who have done their homework know that there are both benefits and disadvantages associated with FHA mortgage financing. Real estate agents and the mortgage industry will typically stress the benefits of a low down payment requirement and flexible underwriting standards with FHA financing. However, there are also disadvantages associated with […]
How To Get An FHA Loan Without Mortgage Insurance
November 17, 2011 Filed Under: FHA mortgage, FHA Mortgage Insurance
The FHA loan program currently offers lower down payments, easier borrower qualification and lower rates than conforming loans. The offset to these benefits is the imposition of an upfront mortgage insurance premium (UFMIP) and continuing monthly mortgage insurance (MI) premiums. The combined UFMIP and monthly MI payments represent a major cost to an FHA borrower. […]