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"FHA"
In the alphabet soup world of the mortgage business, some of the major sources of mortgage programs come by way of the Government Sponsored Enterprises (GSE) known as Freddie Mac (FHLMC) and Fannie Mae (FNMA) for conventional loans, and the Federal Housing Administration (FHA) for government insured loans. In the past several years, the role [...]
Continue Reading →There are two significant changes that have occurred with regard to FHA financing in recent months. First, as part of FHA’s continued effort to make sure that the program will be sustainable, they have adjusted the mortgage insurance (MI) calculation once again. FHA mortgage insurance is comprised of two components: the up-front mortgage insurance due [...]
Continue Reading →The one thing that is constant in the mortgage business is change. Whether it is programs, underwriting guidelines, regulations or interest rates and fees, there is always a different set of facts to deal with, almost on a daily basis. Here are a couple of changes to be aware of: FHA mortgage insurance premiums are going up [...]
Continue Reading →FHA has been an increasingly popular program inthe last few years. Especially here in San DiegoCounty, where FHA previously was not a veryrelevant program, the higher loan limits has madeit the most popular for first-time home buyers. But there is a price for such success. Some industryestimates are that about 30% of all mortgages lastyear [...]
Continue Reading →For the longest time, FHA and VA were not usefultools in the San Diego market. Sales priceswere too high to allow FHA and VA financing to beviable alternatives for borrowers. With the drop in home values, they are back andmany borrowers can now use them as effective toolsto finance their home purchases. Let’s take a [...]
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