FHA home loans have risen to the top as a smart option for savvy mortgage borrowers. As the premier low down payment choice for home buyers, this program that is insured by the Federal Housing Administration is also forgiving to credit history imperfections. Homeowners with minimal equity can also benefit from FHA refinancing.
Effective January 26, 2015: HUD announces a reduction in annual mortgage insurance to entice more first time home buyers back into the real estate market.
See how much you can save at Introducing FHA Mortgage Loans.
Truthfully, FHA financing in the past seemed to discourage more than they helped. Previously considered the poor man's consolation prize, mortgage borrowers are now taking another look.
Do you answer yes to any of the following questions?
If you answered yes to any of these questions, FHA financing may be the right choice for you.
Discover the solution of today's improved FHA home loans for retirees. For a Senior in your life who needs more income, you won't want to miss FHA Reverse Mortgage, a unique way of increasing income and eliminating a monthly mortgage payment.
Can you refinance from a traditional loan into FHA financing if you owe more on your mortgage than your home is worth?
Alternately, if your traditional financing is backed by Fannie Mae or Freddie Mac, you are eligible to participate in the HARP 2.0 Refinance Program.
Otherwise, call your loan servicer to inquire into HAMP loan modification as an underwater financing option.
P.S. Go here to find out if your current financing is a Fannie Mae or Freddie Mac mortgage.
What if you could ask a mortgage insider anything you wanted? Now you can! Ask Kate is specifically designed to answer your questions and create dialog regarding mortgage financing.
You'll also find a wealth of information at Kate's Best Mortgage Rate Blog packed with the latest additions to this website, interest rate updates, and a fresh approach to homeownership.
January 2016: The Mortgage Forgiveness Debt Relief Act Update.
September 2015: Fannie Mae and Freddie Mac Improve Loan Modifications.
Keep on the right path at A Homeowner's Survival Guide to the Intimidating Mortgage Process.
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Aug 11, 16 10:49 AM
Aug 11, 16 10:18 AM