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  • Who and What is Eligible for the USDA Home Loan?

    Who and What is Eligible for the USDA Home Loan?

    People have a natural desire to belong. Clubs, civic organizations and even companies tap into the basic nature of wanting to be associated with a particular group. Each group has its own requirements for allowing people to join. Some are quite exclusive while others will allow a diverse range of members. Along the same lines, certain people are eligible to participate in the USDA rural housing program and others are not.

  • The Difference Between FHA and FHA 203k Loans

    The Difference Between FHA and FHA 203k Loans

    The Federal Housing Authority (FHA) has been in the news a lot over the last few years thanks to their increase in mortgage activity. More people are flocking to the FHA type of mortgage in order to purchase a home or refinance an existing loan down to a better interest rate. There has also been quite a bit of buzz about the FHA 203k. Besides the little numbers 203, what is the difference between these two loans?

  • With a Jumbo Mortgage, the Devil Is In the Details

    With a Jumbo Mortgage, the Devil Is In the Details

    For loans above the limit of $417,000 there is some good news. Many lenders are finding it easier to get these loans processed and approved. More importantly, the huge interest rate discrepancy between conforming loan amounts and jumbo loan amounts has eased up. Right now the jumbo loans are being offered approximately at a rate 0.50% higher than conforming mortgages. In order to get approved for one of these loans, borrowers need to be aware of the fine details that will be scrutinized.

  • Improve Your Chances of Getting Approved for a Conventional Mortgage By Avoiding These Items

    Improve Your Chances of Getting Approved for a Conventional Mortgage By Avoiding These Items

    If your credit rating is really high and you are considering a home purchase, you are most likely a candidate for a conventional mortgage. However, there are things that can hurt even the best borrower during the loan process. Here are some things to avoid.

  • HUD Announces 2013 FHA Loan Limits

    HUD Announces 2013 FHA Loan Limits

    The Department of Housing and Urban Development announces 2013 FHA loan limits effective January 1, 2013 to December 31, 2013. Below is an excerpt from the Mortgagee Letter:

  • 2013 Conventional Loan Limits Announced

    2013 Conventional Loan Limits Announced

    Maximum conforming loan limits in 2013 will remain at 2012 levels ($417,000 for a one-unit property in the continental U.S.), as announced by the Federal Housing Finance Agency (FHFA). Loan limits are set annually by FHFA and apply to conventional loans that Fannie Mae or Freddie Mac may acquire.

  • USDA Rural Housing Update: Funding Available Through Fiscal year 2013

    USDA Rural Housing Update: Funding Available Through Fiscal year 2013

    USDA Rural Housing Update: Mortgage Funding Available Through Fiscal year 2013

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    FHA Loans

    The Difference Between FHA and FHA 203k Loans

    The Difference Between FHA and FHA 203k Loans

    [ 0 ] April 30, 2013

    The Federal Housing Authority (FHA) has been in the news a lot over the last few years thanks to their increase in mortgage activity. More people are flocking to the FHA type of mortgage in order to purchase a home or refinance an existing loan down to a better interest rate. There has also been quite a bit of buzz about the FHA 203k. Besides the little numbers 203, what is the difference between these two loans?

    VA Loans

    VA Mortgage Loan Update

    Major changes for VA Mortgages

    [ 0 ] October 16, 2012

    A recent act called the “Honoring America’s Veterans and Caring for Camp Lejune Families Act” has made significant improvements to the Veterans Administration (VA) mortgages. Thanks to the changes, surviving spouses, veterans who are disabled, and single parents will have better options to help them fund a home.

    USDA Loans

    Who and What is Eligible for the USDA Home Loan?

    Who and What is Eligible for the USDA Home Loan?

    [ 0 ] August 30, 2013

    People have a natural desire to belong. Clubs, civic organizations and even companies tap into the basic nature of wanting to be associated with a particular group. Each group has its own requirements for allowing people to join. Some are quite exclusive while others will allow a diverse range of members. Along the same lines, certain people are eligible to participate in the USDA rural housing program and others are not.

    Conventional Loans

    Improve Your Chances of Getting Approved for a Conventional Mortgage By Avoiding These Items

    Improve Your Chances of Getting Approved for a Conventional Mortgage By Avoiding These Items

    [ 0 ] January 18, 2013

    If your credit rating is really high and you are considering a home purchase, you are most likely a candidate for a conventional mortgage. However, there are things that can hurt even the best borrower during the loan process. Here are some things to avoid.

    Jumbo Loans

    With a Jumbo Mortgage, the Devil Is In the Details

    With a Jumbo Mortgage, the Devil Is In the Details

    [ 0 ] March 21, 2013

    For loans above the limit of $417,000 there is some good news. Many lenders are finding it easier to get these loans processed and approved. More importantly, the huge interest rate discrepancy between conforming loan amounts and jumbo loan amounts has eased up. Right now the jumbo loans are being offered approximately at a rate 0.50% higher than conforming mortgages. In order to get approved for one of these loans, borrowers need to be aware of the fine details that will be scrutinized.

    Refinance Options

    Mortgage Refinance

    How to Decide if You Should Refinance

    [ 0 ] September 27, 2012

    The unbelievable low mortgage rates of the past two years have generated a lot of refinance loans. However, experts indicate that borrowers need to look at the big picture and make sure it is a good time to refinance before talking to a lender.

    News and Updates

    FHA Mortgage Insurance Premiums Effective April 1, 2013 and June 3, 2013

    FHA Mortgage Insurance Premiums Effective April 1, 2013 and June 3, 2013

    [ 0 ] February 8, 2013

    FHA Single Family Annual Mortgage Insurance Premium (Annual MIP) will rise effective April 1, 2013 and June 3, 2013. How long you have MIP will also change effective June 3, 2013. UpFront Mortgage Insurance Premium (UFMIP) will not change.