All About FHA Loans
FHA loans are federally backed loans insured by the Federal Housing Administration. FHA loans are traditionally used by buyers who cannot come up with the larger down payments required on a...
View ArticleFHA To Make Things A Bit Harder
The FHA is reeling from rising defaults in its mortgage business. By law the agency must set aside 2% cash to deal with unexpected losses. As of September 30, those reserves had dropped from almost $13...
View ArticleHave An FHA Loan? Want To Do An FHA Streamline Refinance?
If you have an FHA loan, you have probably heard you can do an FHA streamline refinance. This FHA loan is a type of refinance where you can refi without an appraisal. It used to be very easy to do. In...
View ArticleWave Bye-Bye To FHA…
Last week the House of Representatives passed a bill giving HUD the OK to increase the monthly mortgage insurance on FHA loans to 1.55% from the current .55%. Huh? This is really extreme, and to me is...
View ArticleGetting An FHA Loan On A Property That's Been Flipped?
Many people do not realize when they are buying a property that has been "flipped". What does "flipped" mean? To me it means that a real estate investor bought a house that was run down, and did some...
View Article96.5% FHA Loans Versus 95% Conventional Loans
Since you can no longer drop the MIP on an FHA loan, I wanted to show a comparison between a 3.5% down payment FHA loan and a 5% down payment Conventional loan. I think it may encourage some buyers to...
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Five FHA Loan Facts to Know Before You Buy A Home
FHA, known as the Federal Housing Administration, offers a mortgage loan requiring borrowers to have mortgage insurance on the loan. The FHA loan originated during the great depression and has...
View ArticleGetting A Mortgage In Community Property States
What is a community property state? In the U.S., nine states have tried to alleviate the pressure of divorce by passing community property laws. In Arizona, California, Idaho, Louisiana, Nevada, New...
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