fnma: FHA JUST KEEPS LOOKING BETTER - COMPARE AT 95% LTV - 12/22/07 05:16 PM
My previous post compared FHA to Conventional mortgages with the new FNMA/FREDDIE MAC guidelines. Now let's look at a CONVENTIONAL LOAN at 95% LTV compared to FHA at 95% LTV: 95% LTV CONVENTIONAL FHA FICO 679-660 659-640 639-620 679-620 RATE 6.375 6.375 6.375 6.5 POINTS 0.75 1.25 1.75 0 UP FRONT MI 0 0 0 1.5% LOAN AMOUNT 250,000.00 250,000.00 250,000.00 253,750.00 MONTHLY MI FACTOR .78 .78 .78 .50 P & I … (5 comments)
fnma: FHA - JUST KEEPS LOOKING BETTER - 12/22/07 04:56 PM
FHA (Federal Housing Administration) insured mortgages just keep looking better. FNMA and Freddie Mac have increased the cost of borrowing money for clients with credit scores between 620 and 679. In some cases the PMI companies have increased the cost of PMI for borrowers with lower credit scores. Genworth and other MI companies … (2 comments)
fnma: BACK TO THE BASICS - 11/11/07 04:58 PM
Have you noticed that the old standbys of Conventional FNMA/FREDDIE MAC, GOVT (VA, FHA, Rural Devel, CHFA) and JUMBO loans are back? ( or maybe they never disappeared ) Almost every article that I read in the paper or every segment on the TV talks about the problems that people are having … (3 comments)
fnma: HAVOC WREAKED - 10/27/07 12:16 PM
There have been a series of articles in the local paper, The Day, about a local loan officer, Realtor, appraiser and lawyer that supposedly took advantage of prospective home buyers in the area. The Connecticut Attorney General's office, the FBI and other agencies are currently investigating what was happening and the loan officer … (4 comments)
fnma: IT'S GETTING BUSY OUT THERE - 09/02/07 06:14 PM
What a pleasant surprise it has been, this month of August. I've been a part of McCue Mortgage for the last 27 years and historically August has been one of the slow months of the year. It always seems that with children getting ready for school, summer vacations and lots of other things … (4 comments)
fnma: Working Towards Obtaining Their Dream - 01/08/07 08:00 PM
Most of my business day was spent talking to clients that are in the early stages of accomplishing their home buying dream. Exactly half of the clients had credit scores over 700, good incomes, job stability and some money available. These people are ready to continue on right now. I worked … (2 comments)
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My previous post compared FHA to Conventional mortgages with the new FNMA/FREDDIE MAC guidelines.
