FHA home loans help homebuyers from all across the country attain their dream of homeownership. Historically, FHA loans offer more leniency on loan qualifying parameters than any other type loan which makes homeownership available to homebuyers who might otherwise not qualify.
FHA home loans are able to offer easier loan qualifying because of the mortgage insurance premiums … Continue reading
The term ‘mortgage’ dates back to before the horse and buggy, as far back as the 1300-1400’s and literally means a dead pledge. Funny term, right? I’ll explain…
In more recent cultures, it means to convey title for the repayment of money. The dead pledge comes into play this way: If you pay the property off, the pledge is dead (meaning your pledge to the lender is now ended).
With the conveyance of title, a mortgage loan given for the … Continue reading
More good news for homebuyers from FHA! For the first time since 2001, FHA is lowering its mortgage insurance premiums for homebuyers for all forward mortgages with terms of 15 years and greater.
President Obama announced the Making Homeownership More Accessible and Sustainable directive that requires the Federal Housing Administration to reduce its monthly paid Mortgage Insurance Premium (MIP) by 0.5%.
FHA’s monthly mortgage insurance premium has been moving higher since … Continue reading