fha: FHA Mortgage Loan Insurance Changes for Homebuyers in California's Inland Empire, Temecula, Corona, Riverside, Murrieta & Menifee
- 08/12/10 05:40 PM
HUD recently announced that starting October 4th (recently delayed), FHA is reducing the amount to be collected for their Up Front Mortgage Insurance Premium (UFMIP). However, FHA will also increase how much they collect on their Annual Mortgage Insurance Premium (MIP - collected monthly) for California's Inland Empire (Riverside & San Bernardino County) home buyers. Confused? FHA's insurance is a ‘split' premium type of mortgage insurance designed to protect the lender from loss. FHA collects some up front (UFMIP) and some on a monthly (MIP) basis. Don't confuse this with your fire/hazard type homeowners insurance which is completely different than FHA's mortgage insurance. … (3 comments)
fha: No More 90 Day Anti-flip Rule for FHA Loans for One Year!
- 01/16/10 07:36 AM
HUD Secretary's Shaun Donovan just announced that home buyers in all of California can now appply for FHA home loans to purchase properties that have been owned for less than 90 days by the seller. This is great news for all of us in Riverside County, Temecula, Murrieta, Menifee, Winchester, Riverside, and Corona. This policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities. "This change in policy is temporary and will … (0 comments)
fha: 99.5% LTV FHA Financing for All California Home Buyers Available
- 08/01/09 03:35 PM
For a limited time (while funds last) you can purchase a home using an FHA loan with only .5% (one half) down payment. FHA will allow a second mortgage from CHF to cover 3.0% of your down payment by using the Access 2nd loan down payment assistance loan. The FHA 30 year fixed first loan can go to 96.5% LTV and the 2nd loan can be 3% of the purchase price....making total loan to value 99.5%. You can even use the 3% for closing cost assistance! Call Brad Yzermans at (951) 215-6119 to learn more details about this program and get your PriorityBuyer Status Approval. … (0 comments)
fha: FHA 100% Financing Now Possible Using Your $8,000 Tax Credit for the Down Payment
- 05/14/09 01:55 AM
June 1st Tax Credit Down Payment Update: HUD/FHA just announced a major revision to using the $8,000 tax credit for use as a down paynt on an FHA loan. To summariaze it for you, HUD said a home buyer can still use the $8,000 tax credit to apply towards a down payment, buy down the interest rate, or pay for closing costs pior to closing the loan, but the home buyer still needs to come up with 3.5% of their own money. If you choose this option, to monetize the tax credit you will need to receive a 2nd lien loan from … (0 comments)
fha: Down Payment Assistance for Home Buyers May Return!
- 01/21/09 09:11 AM
Guess what? Congress is considering reinstating seller funded down payment assistance as a way to help reverse the housing crash. (If you are a potential home buyer read through to the bottom of this article) H.R. 600 was introduced January 16th, 2009 by U.S. Rep Al Green, D-Houston, would reinstate and revise the requirements for seller financed down payments for homebuyers using an FHA home loan. This will be referred to as the FHA Seller Financed Down Payment Reform Act of 2009. This assistance was outlawed on October 1, 2008 by a section in H.R. 3221, The Housing and Economic Recovery Act of … (0 comments)
HUD recently announced that starting October 4th (recently delayed), FHA is reducing the amount to be collected for their Up Front Mortgage Insurance Premium (UFMIP). However, FHA will also increase how much they collect on their Annual Mortgage Insurance Premium (MIP - collected monthly) for California's Inland Empire (Riverside & San Bernardino County) home buyers.
;)
;)
;)
