Tag Archive: FHA

How to Get a Mortgage With Little Savings

April 16, 2015 by Leave a comment

If you don’t have a lot of cash in your savings account, you might think you can’t qualify for a mortgage. Between closing costs and down payments, getting a mortgage is expensive. And some first-time homebuyers think every mortgage lender requires a 20 percent down payment. However, many lenders require much less from buyers, which... View Article

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How to Make the Most of the FHA Changes

February 9, 2015 by Leave a comment

Buying a home just became a little cheaper, thanks to changes with the FHA home loan program in 2015. FHA home loans are guaranteed by the Federal Housing Administration and offer an affordable solution to home buying. As a homebuyer, you have mortgage options including a conventional mortgage loan, a VA home loan and a... View Article

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New FHA Home Loan Guidelines for 2015

January 26, 2015 by Leave a comment

If you need a low-down payment mortgage and you don’t have the best credit score, an FHA home loan can help you get the keys to homeownership. The FHA home loan program has been around since 1934 making homeownership affordable for many. With the new year underway, the Federal Housing Administration recently announced changes to... View Article

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How FHA Changes Will Benefit First-Time Homebuyers

January 22, 2015 by 1 Comment

FHA home loans are well-liked by buyers. While conventional lenders require more cash out-of-pocket for home purchases and have stricter credit score requirements, FHA loans feature lower down payment and credit score requirements, which makes homeownership attainable for first-time buyers. FHA loans have helped more than 40 million people become homeowners since 1934, and with... View Article

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Mortgages are Getting More Affordable for First-Time Buyers

January 12, 2015 by Leave a comment

Thanks to a series of recent decisions, authorities are opening up the mortgage marketplace to more first-time and low-income homeowners. Last month, Fannie Mae and Freddie Mac announced that they will begin backing fixed-rate mortgages with down payments as low as 3%. Then, last Thursday, the President announced a 0.5 percent cut to the mortgage insurance premiums... View Article

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President to Announce FHA Insurance Cuts

January 7, 2015 by Leave a comment

Tomorrow (January 8th, 2015), President Obama is expected to announce a 0.5 percent reduction of the Federal Housing Administration’s mortgage insurance premiums. This lowers premiums from 1.35 percent of the loan balance to 0.85 percent, opening up room for more homebuyers to take advantage of the program. According to Bloomburg: “Under the new premium structure, FHA... View Article

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Mortgage Lending Has Dropped to a 17 Year Low

July 23, 2014 by Leave a comment

At the end of the first quarter, U.S. mortgage lending hit $226 billion—a 17-year low that was last seen in 1997, according to the Mortgage Bankers Association. This came amid increasing interest rates and rising home prices, pushing borrowers away. It also had the country’s two biggest mortgage lenders, JPMorgan Chase & Co. and Wells Fargo, reporting that... View Article

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