fha: More Reasons For Salt lake Home Buyers To Use FHA - 12/15/07 11:47 AM
Banging On My FHA Drum Again
There have been a couple of changes recently in the lending arena, Fannie Mae and Freddie Mac have added a new risk assessment fee and they are adding "delivery fees"
First let's look at the risk assessment fee for those buying with a … (0 comments)
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fha: Mortgage Rates In Salt Lake City - 12/15/07 11:43 AM
Rates have gone up a little in the last week, or should I say last rates dipped a little below six. There are deals out there.
Conforming mortgage rates mentioned below are considered with loan amounts up to $417,000 for a single family residence and is owner occupied. It is with proving … (0 comments)
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fha: FHA Secure Helps More Than 33,000 Families Avoid Foreclosure So Far - 12/04/07 08:20 AM
The Bush administration's FHA secure has over 33,000 families so far and expects to have helped 50,000 by year's end.
In light of all the changes taking place in the mortgage world, FHA is really a life saver. Remember FHA Does Not Use FICO Scores
WHAT IS FHA SECURE?
On August 31, 2007, President … (0 comments)
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fha: FHA To Keep Their Loan Limits the Same - 11/28/07 11:49 PM
FHA has announced to keep their loan limits in place for the coming year 2008. The FHA maximum loan amount is 87% of the conventional loan limit of $417,000. Salt County falls into the 87% making the total loan amount for Salt Lake $362,790
There had been a lot of talking about … (0 comments)
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fha: Mortgage Rates In Salt Lake City - 11/16/07 04:46 PM
The new "FHASecure Progam" may be coming out soon according to my Wells Fargo Bank Lender Reps reports that I have been receiving this week.
This will be a benefit to those who have adjustable ARM mortgages that are not currently an FHA loan and the interest rate has adjusted. If your … (0 comments)
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fha: Mortgage Rates In Salt Lake City - 11/09/07 09:26 PM
The Federal government lowered Prime interest rates to 4.5%. This is an interest rate that is directly related with 2nd mortgages, car loans, credit cards etc.
There is talk of another decrease next month that will lower prime to 4.25%. A lot of people do get confused and think that is the … (0 comments)
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fha: Money Laundering or Assistance - 11/04/07 08:44 AM
Below is an update on the Down Payment Assistance Front. Recently HUD stated that they were going to do away with the DPA. A DPA is where a seller contributes 3% of the purchase price plus an administration fee to the DPA and the DPA will gift the buyer the down … (5 comments)
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fha: 8 Reasons Why You Should Use An FHA Approved Lender - 10/22/07 05:18 PM
8 Reasons Why You Should Use An FHA Approved Lender
1. FHA Approved Lender Can Offer You Conventional Products, But A Non FHA Approved Lender Cannot Offer You FHA 2. FHA Approved Lender Has To Have A $250,000 Net Worth, 20% Has To Be Liquid 3. FHA Approved Lender Has To Have … (1 comments)
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fha: Important HUD ruling on FHA Down Payment Assistance - 10/10/07 06:23 PM
Important HUD ruling on FHA Down Payment Assistance:· On October 1, 2007 HUD published a final regulation that establishes that a prohibited source of down payment assistance is a payment that consists, in whole or in part, of funds provided by any of the following parties before, during, or after closing … (5 comments)
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fha: Did You Know That FHA Does Not Use FICO Scores? - 10/08/07 09:01 PM
Yep it's true.
FHA is NOT based on your FICO Score.
Before you decide to stop paying all your bills and then apply for an FHA loan, that's not what it meant.
FHA is still based on credit history just not the way the credit bureaus report it. Typically a low score is based … (0 comments)
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fha: 362,790 Reasons FHA Is Roaring Back To Life In Salt Lake County - 09/16/07 10:55 PM
362,790 Reasons FHA Is Roaring Back To Life In Salt Lake County
For the last few years people used conventional loans, (actually non government loans is a better description, some of them were not conventional) to buy homes. FHA was almost non existent and most lenders and most agents have not done … (0 comments)
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fha: Realotrs Learn FHA - 09/07/07 10:39 PM
For those that are newer in the industry both loan originators and Realtors. You need to learn FHA loans. For the vets of the industry FHA has made a lot of aggressive changes in the last few years, while they were getting their butts kicked by the conventional.
Do you know … (3 comments)
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fha: Governments Double Edge Sword - 09/01/07 02:48 AM
Regarding the Federal Goernments FHA Secure Program
A double edge sword for the gov.if they do nothing and the economy foils (which I am a big fan of free market playing itself out) then more money could be lost for everyone.
if the gov helps, and the economy moves along then everyone has … (2 comments)
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