FHA Streamline Refinances: Lower Mortgage Insurance Costs Coming - 03/18/12 08:26 PM
 
In perhaps the first positive news we have received in some time in regard to FHA mortgage insurance, HUD recently announced changes to reduce mortgage insurance costs on certain FHA Streamline refinance transactions. Let’s take a look at what an FHA streamline refinance actually is and what the changes will mean for the program.
 
Currently, when a homeowner who has an FHA mortgage wants to refinance their home, they can take advantage of the FHA streamline refinance. This is an excellent refinance option for homeowners in today’s market as appraisals are almost always not necessary on FHA streamline refinances … (1 comments)

FHA & VA Streamlines – Still Viable Options - 03/01/12 04:07 PM
 
While much of the recent news has focused on the new HARP refinance program for borrowers who have conventional mortgages, there are still other programs for homeowners who do not fall into these categories. Specifically, the FHA and VA both have Streamline refinance programs for borrowers. Both of these programs are excellent loan programs that provide for a simplified refinance program, even for borrowers who may owe more than their homes are worth.
 
 
 
FHA Streamline Refinance: The FHA streamline refinance is a program that allows homeowners who currently have an FHA home loan to refinance into a … (0 comments)

HARP Refinances - For Borrowers Who Have Equity In Their Homes - 03/01/12 04:06 PM
 
In recent weeks, we have focused on the HARP refinance program as a refinance tool for homeowners who are upside down on their homes. And it is in fact a great program for borrowers who are upside down to refinance and take advantage of today’s historically low interest rates. However, for homeowners who are not upside down on their homes, the HARP program also can offer benefits as well.
 
 
 
Benefit #1- Appraisal Waivers: Traditionally, when refinancing a conventional loan, you needed to have an appraisal done on your home. In today’s market, this is an added expense … (0 comments)

FHA Mortgage Insurance Rises Again – April 1st - 03/01/12 04:05 PM
 
 
HUD recently announced changes to once again raise mortgage insurance for FHA Home Loans starting on April 1, 2012. These latest changes mark yet another increase in the cost for FHA home loans, a trend that started in 2011 with a restructuring of the mortgage insurance premiums for these types of loans.
 
Starting on April 1, 2012, the upfront mortgage insurance for new FHA mortgages will rise from the current level of 1% to 1.75%. This will apply to FHA loans with an FHA case number on or after this point and will make the initial cost of … (0 comments)

HARP 2.0 Refinance Program – Questions & Answers – Part 3 - 03/01/12 04:03 PM
 
In recent weeks, we have focused on the HARP refinance program as a refinance tool for homeowners who are upside down on their homes. And it is in fact a great program for borrowers who are upside down to refinance and take advantage of today’s historically low interest rates. However, for homeowners who are not upside down on their homes, the HARP program also can offer benefits as well.
 
 
 
Benefit #1- Appraisal Waivers: Traditionally, when refinancing a conventional loan, you needed to have an appraisal done on your home. In today’s market, this is an added expense … (1 comments)

 

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