One great way finance a home purchase or refinance an existing mortgage is through the FHA home loan program. With more lenient lending standards and very little down payment required, the FHA loan as gain so much popularity. For also 8 decades, the Federal Housing Administration (FHA) has helped … [Read more...]
Pulling Out Money for Your Home
If you are looking for some financing, you can look at your home’s equity as a source. When you refinance your existing mortgage for a new one, you can choose to do a cash-out refinance. A cash-out refinance works by pulling money from your home equity. Ideally, you need at least 20 percent home … [Read more...]
FHA Streamline: The Speedy Way to Refinance
If you’re looking for a way to save more money and lower the interest rates of your mortgage, one great way to do this is to refinance. It allows recalculation of your current rates so you can lock in on a lower one. It also enables you to shorten or lengthen your present loan term, whichever works … [Read more...]
Loan Limits Go Up in 2017, Says FHA
The Federal Housing Administration (FHA) has announced on December 1, 2016 that there will be an expected increase on the loan limits for particular counties in the country. This increase is brought by the steady rise of property values over the recent years. The FHA recalculates the loan limits … [Read more...]
Refinance To Cancel Your Private Mortgage Insurance
If you fail to meet the 20% down payment for the loan, a lender will require you to get a private mortgage insurance (PMI). A PMI protects the lender in cases where the borrower defaults on the loan and puts the property to foreclosure. With that being said, it means that a PMI solely benefits the … [Read more...]
Property Upgrades Allowed in FHA 203k Rehab
The Section 203(k) Rehab Mortgage Loan may not be familiar to many. This is one of the HUD-loan programs for homebuyers and homeowners who have home improvement renovations in mind. FHA makes home buying (or refinancing) and rehabilitation easier by compacting these two into one loan. This … [Read more...]
Millennials’ Top Picks: The 5 Home Must-haves
The millennial generation is made up of individuals born between 1980 to 2004. Defined as being “entitled, inquisitive, ambitious and hardworking” - millennials surely know what they want. With that being said, these young buyers know what they’re looking for in a home. A big chunk of … [Read more...]
Making Your Senior Years More Golden with FHA Reverse Mortgage
Sitting on a rocking chair on the porch, you reminisce. The very house you live in right now shares a huge chunk of your life. You’d never want to be somewhere else in the world. You’ve been paying your mortgage religiously and punctually for years, it is about time you reap the … [Read more...]
“There are Uncertainties Ahead” – Housing Market and Economy Forecast as Trump Wins
“The outcome of the election brings something to the equation that nobody likes, and that’s uncertainty. Consumers get wary and businesses get wary, and investors will be pricing the uncertainty into their decisions” — Pacific Union International Chief Economist, Selma Hepp emphasized as Republican … [Read more...]
FHA Mortgage: Am I Earning too Much or too Little to Qualify?
Many questions start to brew when one begins to talk about FHA Mortgage Loans. One common question among borrowers is, “Am I earning too much or too little to qualify for an FHA mortgage loan?” The FHA loan is a government-guaranteed loan program offered by the United States Federal Housing … [Read more...]