fha mortgage rates: FHA loans vs Conventional loans - Get a bang for your buck - Large down payments aren't always the best way - Part 3 of 3 - 02-01-10 - 02/03/10 11:14 AM
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)
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fha mortgage rates: FHA loans vs Conventional loans - Don't be cash poor!! - Part 2 of 3 - 01/29/10 02:29 PM
Don’t be CASH POOR – CASH is KING
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)
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fha mortgage rates: FHA Loans vs Conventional Loans - A real comparison with 20% down - Part 1 of 3 - 01/28/10 11:30 AM
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)
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fha mortgage rates: What is Transparency?? Best Mortgage Rates/Online services/Real Estate Services - (Part 1 of 2) - 01/17/10 11:30 AM
Transparency in the Real Estate world… what does it truly mean?
How many of you in the last few years kept hearing real estate and mortgage professionals talk about transparency? Before we start, let's define a few types of transparency.
Transparency - as used in the humanities and in a social context more generally, implies openness, communication, and accountability.
The secondary meaning of transparency are - procedures that include open meetings, financial disclosure statements, the freedom of information legislation, budgetary review, audits, etc.
(These definitions come from Wikipedia)
Here is my major frustration … (15 comments)
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fha mortgage rates: FHA Loans vs Conventionals Loans - Things you should know about even with 10% down - 9-19-09 - 09/19/09 08:55 AM
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 … (10 comments)
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fha mortgage rates: FHA loans vs Conventional loans - Knowing the true comparisons - 07/10/09 02:09 PM
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 … (45 comments)
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fha mortgage rates: FHA Loans vs Conventional Loans - 5% down - Things you need to know !!!! - 05/02/09 02:54 PM
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)
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fha mortgage rates: FHA Loans vs Conventional Loans - A Rude Reality Check - A Comparison with 20% down - 04/03/09 02:54 PM
Important Point to remember -
Never assume that conventional mortgages are cheaper than FHA mortgages if you are putting 20% down, just because you have no mortgage insurance.
I just received a referral from Katerina Gasset the other day who wants all buyers to be approved on her bank owned properties by someone that she trusts, even if that borrower is going to use their choice of lender. The borrower must have told me that she wanted the best rate 3 times. This was up most on her mind and I don't think she heard anything else that I … (26 comments)
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fha mortgage rates: FHA loans vs Conventional loans - A true numbers comparision with 5% down - 12/20/08 09:51 PM
FHA loans have been the main source of financing in the last 6 months. 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 have been FHA mortgages, not subprime. And that is a hard core fact.
The subprime loan for many years could go … (31 comments)
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fha mortgage rates: FHA loans vs Conventional loans - A real comparision with 5% down - 11/15/08 08:11 PM
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 have been FHA mortgages, not subprime.
The subprime loan for many years could go down to a 500 credit score, depending … (68 comments)
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fha mortgage rates: FHA loans vs Conventional loans -- Numbers don't lie - A 5% down comparison - 09/20/08 09:20 PM
FHA loans have been used 30% more as the choice of mortgages as of lately in many parts of the country. 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 industry and the real estate industry. The realization has been that 30% of the subprime mortgages in the last 5 years previous to the last 1 1/2 years should have been FHA mortgages, not subprime.
The subprime loan for many years could … (27 comments)
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fha mortgage rates: FHA loans vs Conventional loans - Knowing the true numbers.... - 06/01/08 05:03 PM
FHA loans have been the choice of mortgages as of lately in many parts of the country for numerous reasons. What I do 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 industry and the real estate industry.
The subprime loan for many years could go down to a 500 credit score, as long as you had more money down. But your rate was usually higher. The better your score, the less you needed … (8 comments)
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fha mortgage rates: FHA loans vs conventional loans -- The true story told by numbers.... - 04/28/08 09:42 AM
FHA loans are not the next subprime loans. Don't let anyone else fool you on this. FHA has been around since 1934 and subprime mortgages started to emerge in 1994. Subprime loans in many cases were good for those lenders that weren't FHA approved. The problem with that is the rates on subprime mortgages were typically 2% higher than FHA mortgages.
Lastly, just because someone said that they can qualify you for a conventional loan and that it would be cheaper than a FHA mortgage, might not always be correct. In many cases, FHA loans are now cheaper than conventional … (14 comments)
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fha mortgage rates: FHA Streamlines - FHA Loans make it an easy process to refinance - 04/28/08 12:04 AM
I decided to venture out in the blogoshpere today to see what some other lenders are writing about FHA Streamlines. As I have stated, you can't believe everything that you read, even if it sounds true.
In this post, I want to highlight some of the misleading facts that I read and to share with you what is actually right.
FHA loans have been around since 1934 and FHA streamlines been around since the 1980's. It is basically for those borrowers that currently have a FHA mortgage. FHA's sole purpose is to streamline the process, making it … (6 comments)
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