Can I get a mortgage with less than 5% down and credit scores of 640? Yes, with a FHA loan you can and it would be cheaper than with a conventional mortgage. There are still rumors that FHA loans are more expensive. This is a very bad assumption and in many cases, this is not true. It all comes down to credit scores and your down payment. You need a true mortgage professional to properly break it down for you.
FHA loans make up about a 33 percent market share of all mortgages in the last 12 months. One reason … (7 comments)
FHA loans have been the major talk in the news as of lately. One loan officer e-mailed me the other day, asking if FHA is going away. I asked, how did you come up with this? Because three realtors had mentioned it to them. I have not heard a thing, but let's use common sense. If FHA loans would go away, then the housing market would crash for good. Just my opinion. Just the other day, a realtor made a comment stating that the buyer was better off putting their 20 percent down with a conventional mortgage and not with a FHA … (56 comments)
FHA loans have been one of the main focal points in today's real estate transactions. Two main reasons for this is that it comes to the down payment and the credit scores. In the past, some loan officers were using other types of financing that were easier for them, but not suited best for the borrower. What I do hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true at all. This statement is very misleading. Many subprime loans should have gone FHA and that is just a fact. But why … (5 comments)
FHA loans have certainly become more popular over the last several years. In the past, some loan officers were using other types of financing that were easier for them, but not suited best for the borrower. That use to get under my skin and I witnessed it first hand in some cases. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true at all. This statement is from those that are inexperienced in both the mortgage and the real estate industries. To many subprime loans should have gone FHA … (5 comments)
FHA loans have become very popular in the last 2 years and there are several reasons for this. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true at all. This statement is from those that are inexperienced in both the mortgage and the real estate industries. To many subprime loans should have gone FHA and that is just a fact. But why are FHA loans getting bad press now, stating that they are the most defaulted loans recently? Read this : We should ABOLISH FHA loans...
I have been talking about comparing FHA loans to Conventional loans and how to use your money wisely in my last 2 mortgage posts. The links are below and I suggest you reading them to find out what the fuss is all about. But in this post, I wanted to bring up 2 important points. some people argue that you should put more money down if you have it, so you don't become up-side-down in your property (I disagree with this statement) another point is that you could actually make a lesser down payment and take some of … (12 comments)
FHA loans have been used more in recent years. Many have talked negatively about FHA loans because of their high default rates as of lately. Don't be fooled by chatter that is not backed up by fact and why this is happening. Please read : Should we ABOLISH FHA loans? One of the main myths that I wanted to dispell in this blog post is that you don't need 20% to buy a home in today's real estate market or that you need a 720 credit score. These are bad … (38 comments)
FHA loans seem to be one of the main choice of mortgages in the last 24 months or so. There are many reasons for this. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from those that are inexperienced in both the mortgage and the real estate industries. The realization has been that 30% of the subprime mortgages from 2002 to 2006, should have been FHA mortgages, not subprime. But why are FHA loans getting bad press now, stating … (15 comments)
The number one myth - FHA loans are more expensive than conventional loans!! - FALSE -
Protection of your family & home purchase will always be with a loan officer with knowledge & integrity… not telling you what you want to hear to make a sale!!
PS… this might be a tad long & boring, but worth it if you are buying/refinancing a home.
I received this e-mail from a borrower yesterday buying in WA. Here are some parts of his e-mail. … (20 comments)
FHA loans seem to be one of the main choice of mortgages in the last 12 months or so. There are many reasons for this. And FHA loans will definitely be the main choice for anyone buying a condo now. More on that later.. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from those that are inexperienced in both the mortgage and the real estate industries. The realization has been that 30% of the subprime mortgages from … (9 comments)
FHA loans seem to be one of the main choice of mortgages in the last 6 months or so. There are several reasons for this, which should be spelled out below in my comparison. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from those that are inexperienced in both the mortgage and the real estate industries. The realization has been that 30% of the subprime mortgages in the last 5 years previous to the last 2 years should … (47 comments)
fha loans vs conventional loans: FHA Loans vs Conventional Loans - 5% down - Things you need to know !!!!
- 05/02/09 07:54 AM
For several of you that read my blogs, I try and do a FHA vs Conventional purchase comparison once every few months. FHA loans have been more wisely used in recent months as the choice of mortgages. What I hate hearing is that they have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from those that are inexperienced in both the mortgage and the real estate industries. The realization has been that 30% of the subprime mortgages in the last 5 years previous to the last 2 years should … (49 comments)
FHA loans in many cases are much better than conventional loans. I have made this statement several times recently because I am tired of listening to loan officers, realtors, and the average consumer get all excited because FHA mortgages are back. People, they never left. FHA loans are not the new subprime mortgages. FHA loans have been around since 1934. And why are they much better than conventional loans? I can make this statement if your credit score is below 680 and especially if you are putting 10 percent or less down. Overall, it's not rocket science to figure … (9 comments)
I just want to educate people about mortgages and the process.
In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
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