Tag Archives: FHA

FHA – Wants a Mortgage For Low Score Borrowers, But Wants Better Mortgage Performance?

Posted ago by Cary Cox

ShareYes leave it to the government to want the impossible, but FHA is asking lenders to do just that with the FHA mortgage program – they want a mortgage for more low FICO borrowers, but they want lenders to deliver …

FHA Mortgage Update

Posted ago by Cary Cox

ShareFHA mortgage guidelines for condos have been extended through the calendar year of 2016. Haveing consistent FHA mortgage guidelines are great. On the other hand, FHA really needs to loosen up their mortgage guidelines for condos. Many first-time homebuyers can …

New National Mortgage & Housing Bubble?

Posted ago by Cary Cox

ShareAs home prices continue to rise the word “Bubble” is sure to creep in to the picutre. There is a great article by Mark Hanson published on ZeroHedge.com that looks at a National Housing Bubble. While I agree with a …

Are Relaxing Mortgage Underwriting Guidelines a Good Thing?

Posted ago by Cary Cox

ShareThe pendulum for mortgage underwriting at one time back from the late 1990’s to the latter part of 2008 was way to far on the side of easy credit. Many joke that if you could “for a mirror” you could …

New Mortgage Rules & Loan Limits

Posted ago by Cary Cox

ShareThe mortgage business is one that is in constant flux with the governement, regulators, and lenders trying to fine tune the mortgage market so that we never have another mortgage-implosion like we did late in the last decade. The one constant …

Qualifying For an FHA Mortgage

Posted ago by Cary Cox

ShareThere are different qualifying criteria for different types of each mortgage product. It is important that you know the important criteria for the mortgage product you select. Of a conventional mortgage, jumbo mortgage, super-jumbo mortgage, the FHA mortgage is the …

FHA Mortgage Updates

Posted ago by Cary Cox

ShareAs always the rules for the FHA Mortgage program like the Fannie-Mae and Freddie-Mac mortgage programs are always changing. Why do these mortgage programs change? In the case of the FHA mortgage program it’s about stemming losses and trying to …

Low Mortgage Rates Keep Housing Industry Up

Posted ago by Cary Cox

ShareLow interest rates are helping maintain housing affordability and thus boosting demand for housing. The 30-year fixed-rate mortgage averaged 3.54 percent.  The 15-year fixed rate averaged 2.74 percent. Some of the recent increased demand has comefrom investors. Sales to first-time homebuyers …

FHA Condo Mortgage Eases

Posted ago by Cary Cox

ShareFinally it looks like the FHA is coming to it’s senses and easing the mortgage underwrting guidelines for condomimims. Recently FHA issued rulings that made it very difficult at best for homeowners associations to recertify their communities to be eligilbe …

FHA Mortgage Income

Posted ago by Cary Cox

ShareIncome for a mortgage is one of the most important factors when qualifying for a FHA Mortgage or being approved for a FHA Mortgage loan that is issued by the Federal Housing Administration. The other major factors that are considered for …