FHA loans are no longer just for first-time homebuyers. They are a great loan for almost any borrower today. Because of the low rates and easy qualification requirements, many borrowers are finding it much more lucrative to opt for FHA financing rather than jumping through the hoops of … [Read more...]
What is Your FHA Insurance Premium Rate?
FHA MIP (Mortgage Insurance Premium) rates continually change. Sometimes they go up and sometimes they go down. It depends on how the FHA-insured loan portfolios performed in the past and what they predict it will do in the future. 2015 saw a drop in rates and 2016 may even see a larger drop … [Read more...]
FHA Loans Offer Flexible Guidelines
Mortgage guidelines today are much different than years’ past. Today you have to verify and re-verify everything you provide for qualification purposes. Lenders will not assume anything for fear of the mortgage crisis occurring again. Because of this, mortgage lending tightened up … [Read more...]
Why the FHA is Lenient with Credit Scores
Today it seems like lenders focus solely on credit scores when approving a borrower for a mortgage, but that is not the case for every type of mortgage. Conventional loans are very credit score driven, but FHA loans are not. The FHA looks at your entire financial picture as a puzzle … [Read more...]
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