fha

FHA Cash Out Refinances Getting More Strict As Of April 1, 2009

March 30, 2009

If you’re in want of a cash out refinance, the most liberal cash-out program in town is about to make qualification more difficult. Effective April 1, 2009, the FHA is reducing the maximum loan-to-value on cash-out refinances by 10 percent, dropping the loan size limit from 95% of the home’s value to 85%. In its official press release , the FHA days it’s making the change to “limit its exposure to undue risk”.

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The 2009 FHA Loan Limits For Every U.S. County

November 19, 2008

In March 2008, HUD temporarily raised FHA loan limits around the country. Effective January 1, 2009, FHA loan limits revert. FHA home loans are mortgages made by private lenders and insured by the federal government. Historically, FHA home loans have been “easier” for which to qualify than their conforming mortgage counterparts and, therefore, tend to […]

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The 2009 FHA Loan Limits For Every U.S. County

November 18, 2008

In March 2008, HUD temporarily raised FHA loan limits around the country. Effective January 1, 2009, FHA loan limits revert

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The 2009 FHA Loan Limits For Every U.S. County

November 18, 2008

In March 2008, HUD temporarily raised FHA loan limits around the country. Effective January 1, 2009, FHA loan limits revert

Read the full article →

FHA Makes Homeownership More Affordable — But Not Until October 1, 2008

September 24, 2008

Earlier this year — and for the first time in its history — the FHA changed its funding fees and mortgage insurance structure. Effective October 1, 2008, it’s repealing those changes. Partly to keep FHA home loans affordable, and partly to comply with new laws, the FHA is rolling back its up-front fees and ongoing mortgage […]

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The New Housing Bill’s Hidden Tax Trap

July 31, 2008

Monday, President Bush signed the Housing and Economic Recovery Act of 2008 into law and the press jumped on the obvious storylines: First-time home buyers get a $7,500 purchase “credit” Conforming loan limits move to $625,000 Delinquent homeowners get a lifeline from the FHA Local governments get federal money for buying and restoring foreclosed homes […]

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Mandatory FHA Loan Fees Increase For Some, Fall For Others

July 18, 2008

For the first time in its history, the FHA changed its funding fees and mortgage insurance structure this week.  FHA-insured home loans are now subject to a risk-based pricing adjustment, as shown by the table above. Because of risk-based pricing, FHA home loans are now more expensive for borrowers with less-than-ideal credit profiles, and less expensive borrowers […]

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FHA Home Loans Emerge As A Cheap Alternative For Low-Credit Score Homeowners

April 1, 2008

FHA stands for Federal Housing Administration, a by-product of the National Housing Act of 1934 and now a sub-group within the U.S. Department of Housing and Urban Development (HUD). The FHA is not a lender nor does it build homes. The FHA exists to insure lenders against loss in the event that a homeowner defaults […]

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FHA Bans Seller-Financed Downpayment Assistance Programs

October 3, 2007

Effective November 7, 2007, the Federal Housing Administration is expected to ban home buyers’ use of seller-financed Downpayment Assistance programs. DPAs are (were?) very popular in FHA mortgage circles as a way to help buyers finance their new homes. FHA loans currently require a downpayment of at least three percent on a home purchase.  That three […]

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