I might venture a guess that better than half of all home buyers, and a great majority of first-time buyers, choose an FHA mortgage. Home loans come in a variety of flavors but the FHA loan, insured by the Federal Housing Administration, offers benefits not found in most other options, not the least of which… Read More
20 Percent Down is Nice, but NOT Mandatory Due to misunderstood government regulations instituted in the past two or three years that were meant to stabilize the housing market, many folks are under the impression that they must have 20% down to buy a home. This is categorically untrue. Not only do 3.5% down FHA… Read More
Agents and Appraisers Express Concern Over FHA Appraisal Policies– I’d be curious to hear what your experience has been. I am absolutely one of the people who has expressed misgivings about a recent FHA appraisal or three, including accuracy, inflexibility and the snail’s pace. I don’t exactly find any of this surprising, just disappointing and… Read More
Wannabe home buyers rejoice—mortgage rates are steadily declining. Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates moving lower for the third consecutive week amid another week of market turbulence. “The Freddie Mac mortgage rate survey had difficulty keeping up with market events this week,” says Sean Becketti, chief… Read More
I’ve noticed a slight loosening in Mortgage regulations lately. Several lenders I have worked with or am acquainted with, have been telling me about programs with lower credit score requirements and even smaller down payment options. This video explains a bit of what’s been going on. Additional Resources for Home Buyers A Heads Up… Read More
This is a somewhat lengthy and very detailed report on the CoreLogic web site. The upshot is that it’s looking like recent changes in the FHA mortgage system have been positive ones. Indications are that the real estate industry and potential homeowners can expect more favorable market conditions, at least for awhile. ~Bill an excerpt… Read More
