Is FHA going to raise the down payment to 5%? - 05/26/11 01:51 AM
...that's a great question!  I wish I knew the final answer.
On May 25, 2011, the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity met with one goal: 
"Determine the role of FHA, RHS, and GNMA in the Single- and Multi-Family Mortgage Markets"
Several industry leaders were brought in to testify at the hearing, including NAR's own president, Ron Phipps as well as chairman of Mortgage Banker's Association, Michael Berman.
A draft of the FHA-Rural Regulatory Improvement Act of 2011 was the focus of the hearing.  The headline from this act will obviously be the change of FHA's minimum down … (6 comments)

FHA 203(h) mortgage loan available for tornado victims in Alabama - 100% Financing - 05/17/11 02:12 PM
The FHA 203(h) Disaster Relief Loan is available for residents affected by the recent tornadoes that swept through Alabama on April 27, 2011. This special FHA loan is specifically designed to help victims in Presidentially designated disaster areas recover by making it easier for them to get mortgages and become homeowners or re-establish themselves as homeowners.
For a limited time HUD is waiving the 3.5% down payment requirement on any home buyer whose previous residence or apartment was destroyed or substantially damaged by the recent storms. This means you can get 100% Financing on your new home.  Both the upfront mortgage … (0 comments)

 
Brandon Snider (Consumer First Mortgage)

Brandon Snider

Cullman, AL

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Consumer First Mortgage

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