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FHA loans & FHA rates - Why so different from conventional loans?

By
Mortgage and Lending with Social Media - Infinity Home Mortgage Company, Inc

 

FHA loans

FHA loans in many cases are much better than conventional loans. I have made this statement several times recently because I am tired of listening to loan officers, realtors, and the average consumer get all excited because FHA mortgages are back. People, they never left. FHA loans are not the new subprime mortgages

FHA loans have been around since 1934. And why are they much better than conventional loans?  I can make this statement if your credit score is below 680 and especially if you are putting 10 percent or less down. 

Overall, it's not rocket science to figure this out. The reason why so many consumers are led down the wrong path sometimes is because either the loan officer doesn't know how to handle the credit aspect of FHA loans or because their mortgage company is not FHA approved

 

 

 

Come see how you can save $272 per month on FHA loans - what a great deal.... (clicking onto this link will show you the secret to a much lower payment) 

 

 

 

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For all of your mortgage needs and for more information on FHA loans, please go to this link. The FHA Expert

For more information on how you can obtain your dream home, please click here : Mortgage Financing Options

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!


Copyright © 2008 by Jeff Belonger

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For more information on FHA loans, please go to this link. The FHA Expert

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

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For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors

 

Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc

Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS
I have been researching FHA loans quite a bit since you guested on Chris's radio show last week.  I have been reading over and over on websites and blogs about the 'new' FHA loans, and 'new first time buyer FHA loans'.  I have been referring them to your FHA Expert website for info.
May 08, 2008 06:53 PM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon
Jeff - I could not agree more - even well qualified buyers often times find FHA is a better loan product for them    
May 08, 2008 07:04 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I think FHA loans  will become popular once again.  I was just explaining it to a client the other day. I will check out the link.Thank you.

May 09, 2008 12:28 AM
Marc Grossman
Marc It Sold! - Longwood, FL
GRI, Greater Orlando Real Estate Broker
Jeff,  Yes, and we will be seeing more and more FHA loans.  The only reason that they were not so popular for a time was that seller did not have to entertain a buyer with an FHA loan as opposed to a conventional loan.  But alas, times change and they will change again sometime.  It's all cyclical. 
May 09, 2008 01:06 AM
Jennifer Monroe
Indigo Home Team powered by Compass - Charlotte, NC
Real Estate REALTOR®/Broker/Designer

So the trick is finding someone in our area that has a clue. You will be licensed in Oregon soon, right? I look forward to that...

May 09, 2008 03:36 AM
Rebecca Schrader
Competitive Insurance of Dundee - Dundee, FL

I've done a ton of FHA loans and it's increasing proportionately.  Many of my competitors don't have FHA capability and try to pound a square peg into a round hole.  Certain deals need to go FHA and certain deals don't.  As a professional mortgage broker, it's my duty to match my client up with the best loan.  Furthermore, I work for a company that has the capability to offer every kind of loan.

I think FHA is about the only sub-prime left now.  While all these one-trick-pony shops get FHA capability, I hope they realize there is more to these loans than a license.  FHA is a tool that has to be practiced regularly.  

May 09, 2008 05:09 AM
Sonja Babic
Sonja Babic/PRIME Realty NC, LLC - New Bern, NC
New Bern NC, PRIME Realty NC, LLC

Great info Jeff so many agents are not familiar with product and that is still not stopping them from making all kinds of statements.  

May 09, 2008 12:32 PM
Jamal Pitts
Higgins & Welch Real Estate Inc. - Philadelphia, PA

Great post Jeff, I agree, but I believe a lot of mortgage brokers didn't focus on FHA loans is because they made more money on the sub-prime loans.  Now that sub-prime has disappeared everybody that is left in the mortgage business is scrambling the get FHA licensed.

May 09, 2008 02:22 PM
Andrea Mignone
New Home Sales Marketer - Manhattan, NY

Thanks for telling it like it is Jeff.  FHA loans are not new but they are a great tool.  Hope you don't mind that i quoted you on my blog.  http://andrea-realestaterollercoaster.blogspot.com/.

Apr 01, 2009 02:51 AM