FHA mortgage first time home buyers

FHA mortgage first time home buyers

The Fall In FHA Loan Limits Will Affect Entry Level Parkland Homes In 2014 The federal government announced last week that the loan limits will fall in 2014 which will have an impact on entry level homes in Parkland, Florida. FHA Loans, which are popular with first-time homebuyers, are government insured loans that allow for borrowers to purchase homes with low down payments of 3.5% of the purchase price and with lower credit scores. The maximum loan amount backed by the Federal …

FHA reverse mortgage scams

FHA reverse mortgage scams

HUD No. 12-069 Lemar Wooley (202) 708-0685 HUD INDEFINITELY DEBARS FOUR INDIVIDUALS FOLLOWING REVERSE MORTGAGE SCAM THAT TARGETED SENIORS 3 Florida loan officers & Pittsburgh title agent serving prison terms following conviction WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today announced the indefinite debarment of three South Florida mortgage loan officers and a Pittsburgh title agent following their criminal convictions on charges they defrauded …

FHA reverse mortgage payment options

FHA reverse mortgage payment options

Established in 1934, The Federal Housing Administration (FHA) offers mortgage insurance on loans through FHA-approved lenders. The FHA provides this coverage for single and multi-family homes, and other approved purchases. The FHA does not issue loans, but FHA mortgage insurance is quite attractive for a prospective lender. The main reason for this is simple; FHA mortgage insurance protects the lender s investment should a homeowner default on the mortgage. Loans insured by the …

Refinance FHA Home loan

Refinance FHA Home loan

FHA Streamline Refinance Loan in Sierra Vista, Arizona by Joseph Small Over the years, the FHA home loan has been a great option for homebuyers in Sierra Vista, as well as nearby communities like Bisbee and Tombstone, Arizona. As mortgage interest rates have continued to drop to historic lows, a lot of these FHA homeowners have wondered if they could possibly refinance and take advantage and lower their monthly payments. This is where the FHA Streamline Refinance Loan comes into …

Non FHA Reverse mortgage Florida

Non FHA Reverse mortgage Florida

Currently, the HECM (Home Equity Conversion Mortgage) is the most popular reverse loan program in Florida as well as the rest of the country. With a HECM reverse mortgage, you have several options to choose from including fixed rates, adjustable rates and purchase reverse mortgages. FHA Reverse Mortgages in Florida Seniors in Florida are really seeing a benefit due to the Government s passing of the American Recovery and Reinvestment Act of 2009, which increased the national reverse …

FHA loan home requirements

FHA loan home requirements

Loan limits for mortgages backed by the Federal Housing Administration (FHA) were scheduled to fall in 2014 due to the expiration of increased limits set during the housing crisis. However, the magnitude of change for the has caught many by surprise. Stimulus legislation established higher limits to ensure homebuyer access to credit during the Great Recession. In general, FHA loan limits are set according to local home prices, subject to certain caps and floors. This legislation …

FHA reverse mortgage Regulations

FHA reverse mortgage Regulations

We don’t have a summary available yet. Library of Congress Summary The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress. 8/9/2013--Public Law. (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Reverse Mortgage Stabilization Act of 2013 - Amends the National Housing Act, with respect to mortgage insurance for home equity conversion mortgages (reverse …

FHA home repairs loan

FHA home repairs loan

What the New FHA Mortgage Limits Mean for You Advisor The Federal Housing Administration recently announced a reduction in high-cost area loan limits. This reduction comes in accordance with the government’s ongoing effort to retreat from the housing market. Rewind the clock back to 2008, when financial markets were significantly depressed, the economy was on the verge of recession — enter the FHA as the new outlet to support a frail housing sector. Since then, unemployment has …

Maximum FHA reverse mortgage

Maximum FHA reverse mortgage

The Department of Housing and Urban Development (HUD) announced Friday that FHA loan limits will decrease starting January 1, 2014. Federal Housing Administration (FHA) loans are popular with first time home buyers and repeat buyers alike, since they offer a way to buy a home with as little as 3.5% down, and loan amounts up to $729, 750 in high-cost areas. But for FHA loans originated in 2014, the maximum loan amount in high cost areas will be lowered to $625, 500. That’s a big …

Conventional home loan VS FHA

Conventional home loan VS FHA

There are a few different mortgage programs to choose from and each have their own benefit, depending on your situation. The two most popular mortgage programs among most buyers recently, are the FHA mortgage and the conventional mortgage. You can also read about an article I wrote about popular mortgage programs for first time home buyers. Visual Graph This visual graph shows you a great comparison of the FHA vs conventional mortgage for a potential home buyer. I have stated …