Big Savings Coming Up on FHA Streamline Refinance Program, effective 6/11/12
In the midst of rising costs for FHA and Conventional loans, we are finally seeing some relief with the FHA Streamline Refinance program. This does not go in effect until June 11, 2012, but that’s right around the corner! To qualify for the savings: You must be...FHA Mortgage Insurance Increasing on April 9, 2012
(Blog post has been updated to reflect the new change date of 4/9/12, per FHA Mortgage Letter 12-4) It’s happening again… FHA Upfront Mortgage Insurance Premiums, as well as the monthly Mortgage Insurance charges, are set to increase on April 9, 2012. If you need an...Choices: When the Appraised Value Comes in Lower than Your Purchase Price
If you are purchasing a home and the appraised value comes in lower than the sales price, this can be a deal-killer for many buyers. Lenders calculate the loan amount based on the lesser of the purchase price or the appraised value. If you’re at the Loan-to-Value...A Reason to Lock Your Rate NOW Instead of Waiting
A new law has passed that will directly affect every person seeking a mortgage securitized by Fannie Mae or Freddie Mac, or insured by FHA, effective tomorrow, 1/11/12. Nearly every loan right now is held by one of these Government-Sponsored Entities (GSEs), so this...Loan Calculator
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