As of January 20, 2010, FHA - the Federal Housing Administration has changed the FHA home loan requirements. This has made getting a home loan just a little bit tougher for those home buyers with weaker credit for those who do not have a lot of money for their down payment. Weaker credit means credit scores under 580 - although … [Read more...] about What Are The New FHA Home Loan Requirements?
Getting a mortgage heading into 2010, has never been harder as the U.S. mortgage and housing industries continue to flounder near the bottom. Since 2007, it has gotten tougher and tougher to get a home loan through Fannie Mae and Freddie Mac. A Home Loan FHA has not been as difficult to get and the FHA Requirements and FHA Loan … [Read more...] about Home Loan FHA – The Loan Program To Refinance Or Buy A Home
In today's housing crisis, there are many questions to be answered when considering a mortgage refinance to take advantage of these historically low interest rates in 2009. Many of these questions like what is my house worth, do I owe more on my mortgage than my home is worth, what does my credit look like, what are my credit … [Read more...] about FHA Streamline Refinance Loan – No Need To Get An Appraisal?
You can lower the payments very easily on your FHA loan by doing what is called an FHA Streamline Refinance. Doing a streamline refinance on an FHA loan is an easy and effective way to save money on your monthly debt without having to spend more money on a regular refinance of your mortgage. FHA Refinancing Is Only Available To … [Read more...] about How To Lower Your Payments On An FHA Loan
The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit … [Read more...] about FHA 203K Loan – Rehab Program Overview
FHA Home Loans have been around since the 1930’s and have afforded millions of Americans an opportunity to fulfill on the American Dream to own a home. Changes in how to qualify for a FHA loan come and go. Similarly, changes in who can qualify have also come and gone. Recently, there have been more changes to who can and … [Read more...] about FHA Home Loan Changes From The Housing And Economic Recovery Act of 2008
FHA loans are not just any old loan program. FHA mortgages are flexible which in my opinion makes them easier, and they have some nuances that make them a special breed of mortgage program. A good loan officer who knows FHA loan guidelines can help a lot of first time home buyers by getting them into an excellent loan program … [Read more...] about What Are The Differences Between FHA Loans And Conventional Loans?
Important Message Regarding AmeriDream And All Non Profit Down Payment Assistance Programs President Bush signed the Housing and Economic Recovery Act of 2008, HR 3221on July 30, 2008. This law eliminates down payment assistance programs from companies like AmeriDream, Nehemiah and other DPAP's effective Oct. 1, 2008. See … [Read more...] about Ameri Dream or Nehemiah – What Is The Difference