LenderBradford's Blog

Jeff's Post correct some miss information that is circulating about the proposed change in FHA's MIP Premiums.  Besides individualsconsidering a home purchase, current Ohio home owners considering refinancing using a FHA Loan or a FHA Streamline, the dates and the higher Monthly MIP should be co...

This post was inspired by a buyer that I spoke with yesterday that was interested in purchasing a Rehabed home where the Rehabber was offering a $20,000 Grant for the purchase of the home.  The seller had the property listed at 127,000 and was offering the $20,000 in grant money that could be use...

The following announcement was made today.   STATEMENT BY DEPUTY ASSISTANT SECRETARY VICKI BOTT Tuesday, August 10, 2010 "Last week, FHA Commissioner David H. Stevens announced plans for implementing FHA's new mortgage insurance premium structure. As we work to publish a Mortgagee Letter, it is ...

Dear Home Owners,  Today I spoke with a buyer that owned more on their home and the current value of the home.  Because of this, they thought they were unable to refinance and take advantage of today's Low, Low Rates.  I was able to: Offer to pay any  Lender and Title Company Charges Allow them t...

FHA has announced that After Sept 6, 2010 they will be changing the way FHA's MIP (Mortgage Insurance Premium) will be collected.     Presently, FHA collects 2.25% of the Loan Amount upfront and can be financed, After that a monthly premium of .50% or .55% (Based upon the LTV) is collected on a m...

I believe this is a link to the bill that will bring back USDA Loans.  http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR04899:@@@X I am still looking for additional details. The NAR is reporting.  The program allows 30-year originations primarily for low-income families to purchase households or re...

For consumers the shopping for the Better Loan is difficult when Lenders are quoting Different Rates.  The 2010 Good Faith Estimate was intended to assist borrowers Shopping for the best Mortgage, however many lenders have chosen to develop their own "Initial Fees Worksheet" because the 2010 Good...