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fha: FHA Streamline Refinancing Fees Reduced - 03/30/12 11:10 AM
FHA Streamline Refinancing Fees Reduced
The White House recently announced significant changes that will reduce the fees charged for the Federal Housing Administration's (FHA) Streamline Refinance Program.
Beginning June 11, 2012, the Streamline Refinance upfront fee of 1% will be reduced to 0.01% of the total loan amount. And the annual fee will be lowered from 1.15% to 0.55% of the total loan amount.
By refinancing through this streamlined process, the average qualified FHA-insured borrower will save approximately $3,000 a year or $250 per month, on top of any savings from refinancing to a lower mortgage rate.
The … (3 comments)
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fha: FHA Insurance Premiums Will Increase Soon - 03/06/12 07:25 AM
FHA Insurance Premiums Will Increase Soon
If your clients are considering buying or refinancing a home, you should let them know that the Federal Housing Administration (FHA) will soon increase mortgage insurance premiums on FHA home loans.
The Department of Housing and Urban Development (HUD) announced it would increase the annual mortgage insurance premium (MIP) by 0.10% for FHA loans under $625,500. This would raise the fee from 1.15% to 1.25% of the total loan amount. This annual premium increase — which is broken down into monthly payments — takes effect April 1, 2012.
In addition, HUD announced it … (0 comments)
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fha: FHA 90 Day Flip Rule is Waived until Feb 1, 2011 - 01/19/10 10:54 PM
90 Day Flip Rule Waived for All Sellers
Great News!!! The 90 day flip rule has been temporarily waived for all sellers effective February 1, 2010 and the waiver shall expire one year from February 1, 2010 FHA finds that eliminating the 90 day flip restriction for buyers will give FHA a greater opportunity to dispose of it's single family REO properties in a way that maximizes return to the FHA mortgage insurance fund and also permitting buyers to use FHA financing to purchase properties sold through private sales for resale, will help create market conditions that will allow homes to … (3 comments)
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fha: NEW FHA Guidelines Say "Yes, you can buy a home after a short sale without a waiting period" - 01/09/10 09:02 PM
New FHA Short Sale Guidelines
You can now do a short sale on your home and buy a new home without waiting three years. Prior to the new guidelines you were unable to buy a home with a FHA insured mortgage following a short sale of your primary residence. download FHA Guideline PDF
If you were current when your short sale is done you have every chance of buying a new home according to the new guidelines from the Department of Housing
from FHA guideline-
Borrowers are considered eligible for a new FHA-insured mortgage if, from the date of loan … (6 comments)
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fha: Senate Approves Extended U.S. Homebuyer Tax Credit - 11/04/09 11:26 PM
By Brian Faler
Nov. 4 (Bloomberg) -- The U.S. Senate approved a $45 billion plan to expand a tax credit for first-time homebuyers, extend jobless benefits and provide tax refunds to money-losing companies.
Lawmakers voted 98-0 for the measure, sending it to the House, where Majority Leader Steny Hoyer of Maryland said in a statement it will receive a vote as early as tomorrow. The bill then would be forwarded to President Barack Obama for his signature.
The plan would be the first major extension of provisions in February’s economic stimulus plan. The $8,000 homebuyers’ tax credit, slated to expire this … (2 comments)
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fha: Danville CA Real Estate – Homes for Sale in Danville CA – Market Snapshot for Bettencourt Ranch in Danville CA November 1, 2009 - 11/04/09 08:55 PM
Via Vickie Nagy, Realtor, Pre-Foreclosure Specialist Certified Call 925.407.7987 (Keller Williams Realty in Danville CA):
Market Snapshot for Bettencourt Ranch in Danville CA including homes for sale in Bettencourt Ranch in Danville CA November 1, 2009* - There are currently two detached single family homes for sale in Bettencourt Ranch of Danville CA. Each is a spacious single family home with a reported 3,464 to 3,488square feet of living space. Each offers 4 bedrooms and 3 bathrooms and are priced at $799,000 and $1,150,000. The median listing price in Bettencourt Ranch on November 1, 2009 is $974,500. Bettencourt Ranch is a … (0 comments)
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fha: The Impact of Interest Rates - 07/17/09 10:45 AM
Some potential homebuyers are sitting on the sidelines waiting for housing prices to hit bottom. It makes sense to buy a house at the lowest price possible but there are other critical considerations to keep in mind. Trying to time the bottom of any market is always difficult. Also, interest rates are at historic lows, and many homebuyers fail to consider the savings that come with low interest rates, particularly over the life of the loan, or even the partial life of the loan.
Mortgage rates are low because of the recession and foreclosures. In addition, the Federal Reserve has … (0 comments)
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fha: FHA Renovation Loan 203(k) - You Love the location But Hate the House - 03/04/09 11:06 AM
In this market you'll often find the location of your dreams, but the house leaves you feeling sick inside. You wouldn't or couldn't see youself living in such a place... but the view... the view is amazing!
FHA offers the 203(k) Renovation loan to solve this problem. Here is what is offered:
FHA 203(k) Rehabilitation Home Mortgage loans are used to Purchase or Refinance and rehabilitate an existing One to Four family residences (Residence must be 1 year old) that will be used for residential purposes. FHA approved Condos are eligible as well.
Unlike FHA's Renovation Loan, Conforming loans a … (5 comments)
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fha: Do 1st Time Home Buyers Understand How to Take Advantage of the New Tax Credit? - 02/28/09 09:30 AM
Here's How the New $8000 Tax Credit Can Help 1st Time Home Buyers:
The American Recovery and Reinvestment Tax Act of 2009, which is the part of the stimulus law that deals with the first-time homebuyer tax credit, changes the tax credit that is currently in place. Here are the details:
The credit is for 10% of the purchase price, up to $8,000. (The old law was also for 10% of the purchase price, but only up to $7,500.) The new law extends the period during which you can buy a house and get the credit until December 1, … (0 comments)
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fha: FHA Streamline Refinance -Thousands of Homeowners Lowering their FHA Loan Payments - 02/07/09 09:45 AM
FHA Streamline refinances are offered with
No appraisal No employment verification No asset verification No underwriting No money out of your pocket No occupancy requirement Thousands of homeowners are taking advantage of FHA's Streamline refinance They are realizing that they can lower their interest rate without having to provide all the traditional income and asset verification.
The streamlline refinance is available without needing an appraisal. When you choose an FHA Streamline Loan, you can refinance your existing FHA-insured loan with less paperwork and lower costs than you would have with other home loan refinancing solutions.
Refinancing your current FHA loan can … (2 comments)
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Julie Chroust, NMLS# 249458, Direct Lender & Mortgage Banker
Walnut Creek,
CA
More about me…
Julie Chroust, Prospect Mortgage, Walnut Creek, CA
Address: 1910 Olympic Blvd,, Suite 120, Walnut Creek, CA, 94596
Office Phone: (925) 516-5809
Cell Phone: (925) 381-1481
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