Borrowers to Pay More for FHA Loans With rule changes that will be coming in the summer, an FHA loan could cost you 10% more to close. That $20,000 on a $200,000 loan. 3.5% Down Payments and seller concessions of up to 6% will soon be a thing of the … [Read more...]
Mortgage Rates Climb .25% in Past Week – What to Do
December 29, 2009 by Leave a Comment
Mortgage Rates Jump to 5.37% Yes, mortgage rates are up. Rates have jumped from 4.93% at the beginning of the month to 5.37% today. The question is will they go up further, or stop and reverse like they did over the summer when rates approached … [Read more...]
Is A VA Mortgage for You?
December 22, 2009 by Leave a Comment
Will a VA Mortgage Work for You? VA mortgages are partially guaranteed by the Veterans Administration, require low down payments, require no mortgage insurance and have negotiable mortgage rates. I'm a veteran having served with the Air Force as a … [Read more...]
New FHA Loan Condos Rules
December 21, 2009 by 1 Comment
New Rules for FHA Condo Loans The FHA has published some new rules for condo loans. These rules are more stringent and are designed to protect the agency from defaults and fraud. The New Rules 30% of the units must have already been sold A big … [Read more...]
