UncategorizedSeptember 1, 2012FHA 203k Eligibility May Soon Expand To Real Estate InvestorsHUD is expected to make its FHA 203k construction loan available to real estate investors soon.
FICO & Credit ScoresAugust 25, 2012Your Credit Report Will Be Re-Pulled Just Prior To Closing (And It Could Change Your Loan Terms)When does "cleared to close" not mean "cleared to close"? When Fannie Mae's involved! Keep your loan approval intact all the way through funding. Here's how.
UncategorizedAugust 24, 2012Mortgages On Maternity Leave : MGIC Settlement Streamlines Loan ApprovalsMGIC settles housing discrimination claim with the Department of Justice and agrees to revise approval guidelines related to family leave.
Mortgage StrategyAugust 17, 2012FHA Mortgage Rates Lower Than “Freddie Mac” Mortgage RatesThere is a big advantage to "going FHA" these days -- especially if you're making a low downpayment purchase. FHA mortgage rates are low as compared to conventional ones.
Economic NewsJuly 17, 2012A Helpful Chart : How Inflation Changes Mortgage RatesInflation is a self-reinforcing cycle. The longer it lasts, the more insidious its effects, and rising mortgage rates are an unfortunate consequence.
UncategorizedJune 12, 2012HARP, FHA Streamline Refinance Support “Underwater” HouseholdsFalling home prices have lowered homeowner wealth nationwide. HARP and the FHA Streamline Refinance program are helping families save money.
Mortgage StrategyMay 8, 2012FHA Mortgage Rates Vs Conforming Mortgage Rates : Which Is Better For You?Is an FHA mortgage better for you than a conventional one? A quick rundown of each product and a comparison chart.
UncategorizedApril 30, 2012Short Sales Play Growing Role in Home SalesNew Short Sale rules for Fannie Mae and Freddie Mac require 30-day approvals.
HARP RefinanceApril 17, 2012What To Do When Your HARP 2.0 Application Is Denied For High Loan-To-Value41 percent of HARP applicants report LTVs over 125%. Why are these homeowners having a hard time getting approved for HARP 2.0?
Mortgage StrategyMarch 30, 2012Mortgage Trends : Homeowners Flock To 15-Year Mortgages Over 30-Year MortgagesLast quarter, 1 in 4 conforming mortgage applicants ditched their 30-year mortgage for a 15-year fixed. There are good reasons why, too.
FHA Home BuyingMarch 26, 2012New FHA Mortgage Insurance Premiums : A “Two-Class” System For FHA MortgagesThe FHA has restructured its mortgage insurance rates for 2012. This guide details the changes and can help you keep your FHA payments low.
FHA Home BuyingFebruary 28, 2012April 2012 : The New FHA Mortgage Insurance Premium (MIP) ScheduleThe FHA will raise its mortgage insurance premiums April 1, 2012. Here is a listing of the new FHA MIP schedules.
Mortgage StrategyJanuary 10, 2012No More No Fee? “Zero-Closing-Cost Mortgages” Face ExtinctionA pending mortgage policy change threatens to end zero closing costs mortgages for good. The end of "no fee" mortgages may be here sooner than you think.
Mortgage StrategyDecember 29, 2011Save $45,000 Per $100,000 Borrowed With A 15-Year Fixed Rate MortgageRecord-low mortgage rates draw refinancing households away from 30-year fixed-rate mortgages into shorter-term products such as the 15-year fixed-rate mortgage.
Mortgage StrategyNovember 1, 2011Credit Score Under 740? Prepare To Overpay On Your Mortgage.Most people know that low FICO scores influence the mortgage rates for which they're eligible. For the past 3 years, though, they've raised closing costs, too.
FICO & Credit ScoresOctober 10, 2011Chart : How Does A Foreclosure, Missed Payment, And Maxed-Out Credit Card Change Your FICO ScoreThe company behind the FICO scoring model published a "What If?" series for common, specific credit missteps. See how your scores can change with a foreclosure, missed payment, maxed credit card, and more.
Mortgage RatesSeptember 6, 20115-Year ARM Falls Below 3 PercentThe 2011 Refi Boom's Second Wave has started. 5-Year ARMs are leading the charge. Assuming discount points are paid, ARMs are now below 3 percent.
ForeclosuresAugust 26, 2011Foreclosures As A Percentage Of All Home Sales, By StateIn some states, more than half of home sales are for homes in foreclosure. Where does your state rank?
Mortgage StrategyAugust 8, 2011Zero-Cost Mortgage Rates More Popular In 2011It appears that lower mortgage rates come with a price. Closing costs rising in most states. Look zero-cost instead.
Mortgage RatesJuly 26, 2011FHA Mortgage Rates Vs. Conforming Mortgage Rates : Which Are Cheaper?The FHA insures 25% of the mortgage purchase market these days, up from 5 percent in 2006. Is it because FHA mortgages are cheaper than conforming ones?