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fha loans: Dysfunctional Congress leads to even Lower Interest Rates - 08/03/11 10:02 PM
Current low mortgage rates have fallen again as the U.S. continues to shows signs of a sluggish economy with a drop in consumer spending.
Dropping by .125%, today’s 30 year fixed mortgage interest rates are at 4.125%. 15 year fixed mortgage interest rates are at 3.500% and 5/1 ARM loan rates are at 2.750%, both remaining the same. Conforming 30 year fixed mortgage loans are the most desired long term mortgage product amongst borrowers because they offer the security of a monthly mortgage payment that remains the same for the entire length of the loan. With 0.7 to 1% origination fee, these … (2 comments)
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fha loans: FHA may be Your Best Choice - 07/04/11 11:10 PM
The demise of subprime, no-documentation and no-down-payment loans is more than three years in our rear view windows. Many folks with credit challenges and little cash have turned to Federal Housing Administration (FHA) and Veterans Affairs (VA) loans for their home financing needs.\
While the FHA has recently tightened itsstandards, it’s one of the only options for a low down payment. Consider the following:
FHA loans require just a 3.50 percent down payment in most areas. Maximum allowable loan amounts vary from $271,050 to $793,750, depending upon the area. Interest rates are competitive. Today’s 30-year fixed rates are as low as … (3 comments)
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fha loans: FHA Offers Low Down Payments For First-Timers - 03/23/11 12:20 AM
Except for VA , and a handful of state-sponsored loan programs, 100% loans of the last decade are now gone. For first-time home buyers it is just one more obsticle to get over in the search for an affordable home loan.
Enter FHA (Federal Housing Administration), the government-backed loan program that has been around for years. For nearly a decade, an FHA mortgage was nearly non-existent, partly because of its own archaic lending guidelines and partly because of 100% conventional loans that FHA could not compete with.
Today, however, FHA home loans represent over 35% of all mortgages originated. Most of … (2 comments)
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fha loans: FHA "Green Program" - 11/29/10 08:05 AM
FHA recently announced the introduction of their new "Green Program" better known as the Power saving loan. But how does this exactly work.
Well it works like this - FHA will secure your loan with a promise from the customer that they will choose or build a home that is primarily energy efficient, is using less water and probably less produced waste in a given year. This means that the homeowner must install energy efficient lighting all over the property or purchase anything that could actually produce energy( solar panels, windmills or the like), Use water efficient appliances or fixtures for … (1 comments)
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fha loans: The New Breed - How to sell to the New , Younger , Homebuyers - 11/15/10 02:27 AM
If you have been noticing the real estate blogs and other websites regarding real estate, you might have noticed the influx of young people wanting to buy their own homes and be independent from renting and more embarrasingly, living with their parents. Now you might think this is a good sign that the market is finding a new demographic of customers, however, this age group is not without its challenges.
When I meant that these customers are young, I do mean young, as in 21 years old and up. When we look back at our 21st year, we can still oftentimes … (0 comments)
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fha loans: FHA loans for mobile homes? Are they serious? - 08/02/10 01:14 AM
A few days ago, I stumbled upon a report from those wacky and entertaining guys at thinkbigworksmall.com about another policy that the government is cooking up. Apparently, FHA is instructing brokers to offer loans to mobile home owners. Now this is just a report from the New York Times, but apparently, the fact that a quarter of Americans are living in mobile homes is a statistic that FHA just could not resist. I mean think about it, that is almost every home sold in the country and with the shape of the housing market right now, that figure is expected to … (1 comments)
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Stephen Katz
Atlanta,
GA
More about me…
Katz Mortgage Team, a branch of VanDyk Mortgage Corporation
Address: 800 Johnson Ferry Road, Atlanta, GA, 30342
Office Phone: (866) 742-8400
Cell Phone: (770) 552-1000
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