This guide covers mortgage rates on FHA vs conventional loan rates. Mortgage rates on FHA vs conventional loans have been steady for the past year. Mortgage rates on FHA vs conventional loans have been historically low. This is due to HUD, the Federal Housing Administration (FHA) parent, guaranteeing FHA loans. In general, mortgage rates on…
This guide covers qualifying for FHA versus non-QM loans. In the following paragraphs, we will cover qualifying and getting approved for FHA versus NON-QM loans. The first batch of closings on FHA back-to-work extenuating circumstances loans was launched in the first week of December 2014. HUD’s FHA Back to Work extenuating circumstance due to an…
FHA Mortgage Credit Score Requirements 2022 If you’re like a lot of people, the last two years have been rough. With the pandemic’s start, people were laid off, and bills got behind. Even with the best of intentions, people’s credit scores took a hit. Now that you may have gotten back on your feet, you…
This guide covers the best time to buy a home for first-time homebuyers. There are two parts to the best time to buy a home for first-time homebuyers. First and foremost, the homebuyer should be ready financially and credit-wise. Buyers should not be struggling with the down payment. John Strange of Gustan Cho Associates explains…
This guide covers refinancing FHA to conventional loan eliminating FHA mortgage insurance premiums. Home sales are hot throughout the United States. Homes in Florida, California, Illinois, Virginia, Texas, Georgia, Indiana, Wisconsin, Washington, and the United States have appreciated double digits in the past 24 months. Dale Elenteny, a senior mortgage loan advisor at Gustan Cho…
HUD, the Federal Housing Administration parent, has lowered the hefty FHA mortgage insurance premium on FHA loans by 30 basis points. The annual FHA mortgage insurance premium of 0.85% got reduced to 55% of the mortgage loan balance. Reducing FHA mortgage insurance premium is a welcome move for many Americans. This holds especially true for…
Get a Fast Quote: Click Here In this article, we will cover fixing your credit to qualify for home loan to get pre-approved. Credit and income are the two most important factors in qualifying for a home loan. Homebuyers can have the best credit and credit scores, but with no documented income, they will not…
This blog will cover HUD charge-off account guidelines on FHA loans. I get this question asked several times a day: Why do I have to pay a charge-off to qualify for an FHA loan? Many home buyers who call me every day are told that they are told to pay off all of their charged-off…
Apply Now This Article Is About getting Chapter 13 Trustee Mortgage Approval on FHA or VA loans. You can buy a house during the repayment plan during Chapter 13 Bankruptcy. You do not have to wait until the Chapter 13 has been discharged. Not too many loan officers, realtors, or even bankruptcy attorneys realize that…
In this article, we will cover the difference between Conventional versus FHA loan guidelines. We will discuss the differences between Conventional versus FHA loan for borrowers. Borrowers may benefit from one loan program over the other. Each case will need to be evaluated on an individual case-by-case basis. There have been changes with Conventional versus…
Apply Now This blog will cover FHA home loan guidelines on purchase and refinance transactions. We will discuss whether you qualify for FHA loan and meet FHA home loan guidelines. Homebuyers presently renting a home or apartment and thought to apply and qualify for a home loan and see if you meet the qualification requirements,…
Apply Now In this blog, we will cover the comparison of FHA versus conventional mortgages on purchase and refinance transactions. Prior to home buyers starting the home buying process, it is highly recommended that they educate themselves on the type of loan program that is best for them. Benefits of FHA Versus Conventional Mortgages For…
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