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fha home loans new jersey: What are the real truths behind such FHA Rumors & FHA Myths in New Jersey??? - 04/11/11 08:53 PM
FHA loans in New Jersey and in all other states in the last 18 months have become the popular choice when choosing a mortgage for many different reasons. It has been stated that FHA loans now represent about 35 percent of all financing options. And because of the popularity and usage of FHA loans, there seems to be more FHA rumors or myths circulating. Let’s review some of these so-called myths.
Before I begin, just a little quick education when it comes to mortgages. You basically have 4 types of mortgage programs.
FHA loans- This type of loan … (17 comments)
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fha home loans new jersey: Mortgage & Real Estate RED FLAGS that consumers need to be aware of !!! - 12/06/10 10:42 AM
Purchasing a home can sometimes be confusing and stressful, and some people in the mortgage/real estate industry will take advantage of consumers. Yes, sometimes there are problems and or issues that come up. But sometimes these problems were known ahead of time, yet never brought to anyones attention. Better yet, some of these problems should have been talked about prior to the mortgage application when the loan officer did their pre-screening of that borrower. Overall, it comes down to honesty, integrity, knowledge, very good service, and just being upfront when problems arise.
First time homebuyers that have never experienced buying a home can … (28 comments)
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fha home loans new jersey: It's official - FHA has formally announced the mortgage insurance changes for FHA loans - 09/02/10 03:04 PM
FHA first shared these changes on August 4th, after it had been approved by Congress and then the President signed off on it on August 11th. FHA has finally come out with the mortgagee letter, ML 2010-28, which puts it officially in writing now.
This mortgagee letter is effective on FHA loans in which the case number is assigned on or after October 4th, 2010. This policy will increase the monthly mortgage insurance and decrease the mortgage insurance premiums for purchase money and refinance transactions, to include FHA streamline refinances.
So what are the major FHA changes … (13 comments)
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fha home loans new jersey: Rumors must stop - FHA loans in New Jersey will be increasing their mortgage insurance plans by October 4th, 2010 - 08/27/10 06:16 PM
The President officially signed Bill H.R. 5981 on August 11th, 2010 which became public law. I wrote about the actual changes to FHA loans and how it will affect borrowers as of October 4th, 2010. Please read : Bill H.R. 5981 passes - FHA Mortgages to increase it's annual mortgage insurance premium
There has been a main problem in regards to the information being supplied since this bill was passed by the Senate, which was on August 4th, 2010. I have read several blogs out on the internet both by AR members and the news media stating that the … (12 comments)
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fha home loans new jersey: Bill H.R. 5981 passes - FHA Mortgages to increase it's annual mortgage insurance premium - 08/06/10 10:43 AM
FHA first proposed the monthly mortgage insurance changes in the beginning of 2010. Bill H.R. 5981 was first passed by the House in the spring and was just passed by the Senate the other day. What does this bill do for FHA mortgages? They have projected that it will yield approximately $300 million per month to the FHA insurance fund.
So what are the new FHA changes? - For terms greater than 15 years -
LTV's <= 95% will increase the monthly fee to 85 bps
LTV's > 95% will increase the monthly fee to 90 bps
And … (65 comments)
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Cherry Hill,
NJ
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Social Media - Infinity Home Mortgage Company, Inc
Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033
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