fha: FHA or Conventional Mortgage - Which is Better (& Why)? - 04/01/19 03:14 PM
FHA or Conventional...this is often the question.  The purpose of this article is to help you (and/or your Clients) articulate the pros & cons of each from an objective perspective.
 
FHA - Stands for Federal Housing Administration with guidelines handed down from the Department of Housing & Urban Development (HUD).  In other words, any Mortgage Lender who originates an FHA loan is beholden to the guidelines of HUD.
 
Pros of FHA Loans:
  
Metophorically speaking, in order to be approved for ANY mortgage loan, you need to "fit in the box" of approval guidelines.  With FHA, "the box" is larger.  In other words, the … (2 comments)

fha: How To Calculate An FHA Mortgage Payment - Revised w/ 2015 MMI Changes - 02/07/15 02:45 AM
How to calculate an FHA mortgage payment has evolved again, now that the most recent Monthly Mortgage Insurance changes have been implemented via HUD Mortgagee Letter 2015-01.
 
 
How to calculate an FHA mortgage payment
 
Step 1: Determine the loan amount
· Purchase Price x .965 = Base Loan Amount (assuming the Borrowers opt for the minimum 3.50% down payment)
· Base Loan Amount x .0175 = Up Front Mortgage Insurance Premium (UFMIP)
· Base Loan Amount + UFMIP = Final Loan Amount

Step 2: Determine the monthly payment
 1.  Principal + Interest Payment Calculation
· Click here to access a free mortgage payment calculator for principal + interest payments
2. Property Taxes = Purchase Price of home x 0.0125 divided … (0 comments)

fha: Mortgage Rate Update 7-25-13: Trends Projections & Today's Best Rates - 07/25/13 03:28 AM
Durable Orders were stronger than expected this morning, while Jobless Claims came in very close to the consensus. Mortgage Backed Securities (MBS) opened low and moved lower after the news, but have since returned close to opening levels? There will be a 7 year treasury auction later this morning. Prices are on average 0.250 worse compared to yesterday, depending on rate and product.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. … (0 comments)

fha: Mortgage Rate Update 6-4-13: Trends Projections & Today's Best Rates - 06/04/13 02:15 AM
The bizarre activity of the past few weeks continued yesterday with another rollercoaster ride for interest rates.  The morning opened terrible, dramatically improved, then managed to end up nearly where it began when all of the smoke cleared.  All eyes will be on the employment numbers this week to help determine which direction we can expect to trend moving forward.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to … (2 comments)

fha: Mortgage Rate Update 1-9-13: Trends Projections & Today's Best Rates - 01/08/13 10:16 PM
Tuesday closed with a modest gain of 6 basis points. Industry Analysts remain conflicted in their predictions of where mortgage rates will end up in the short term.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the … (0 comments)

fha: Mortgage Rate Update 1-7-13: Trends Projections & Today's Best Rates - 01/06/13 11:00 PM
It was a tale of 2 extremes as the market closed last week.  Thursday was a devastating 69 point drop followed by a strong 42 point gain on Friday.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand … (0 comments)

fha: Mortgage Rate Update 11-27-12: Trends Projections & Today's Best Rates - 11/26/12 11:47 PM
Yesterday's trading kept rates in positive territory throughout the day, ending with a 12 basis point improvement. Although today has opened flat, there is a strong chance of losing yesterday's gains as the news of the bailout for Greece appears to be poised to solve some of their immediate issues (although the long term prognosis is bleak).
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library … (0 comments)

fha: Mortgage Rate Update 11-8-12: Trends Projections & Today's Best Rates - 11/08/12 06:14 AM
The ripple effects of Tuesday's election continue to impact mortgage rates. Thus far today, we have seen a strong improvement of 39 basis points.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing … (0 comments)

fha: Mortgage Rate Update 11-2-12: Trends Projections & Today's Best Rates - 11/02/12 03:21 AM
The market has opened today with a strong start.  We are currently up 33 basis points!
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you don't … (0 comments)

fha: Mortgage Rate Update 11-1-12: Trends Projections & Today's Best Rates - 11/01/12 01:23 AM
Although the market officially re-opened yesterday, pricing remained "flat" throughout most of the afternoon as logistical challenges back east continue to be prevalent due to Hurricane Sandy. Some Analysts expect some "major swings" during the remainder of the week. If you have a loan that is closing soon, it might be best to take a precautionary stance and lock-in today.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to … (0 comments)

fha: Mortgage Rate Update 10-30-12: Trends Projections & Today's Best Rates - 10/30/12 12:58 AM
The stock market will be closed again today in the wake of Hurricane Sandy (and it's proximity to the actual trading floor). Tentative plans are to re-open trading tomorrow...weather permitting.  In the meantime, mortgage rates remain constant...and remarkably attractive!
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to … (1 comments)

fha: Mortgage Rate Update 10-24-12: Trends Projections & Today's Best Rates - 10/23/12 11:27 PM
As the market opens, we find ourselves in danger of a 3rd day of worsening rates in a row (despite many predictions of future reductions in mortgage rates moving forward). Should you wait and see, or take the "bird in the hand" approach to your finances?
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at … (0 comments)

fha: Mortgage Rate Update 10-10-12: Trends Projections & Today's Best Rates - 10/09/12 11:41 PM
The numbers do not look favorable initially as the market has opened.  There was a Mortgage Backed Security (MBS) monthly coupon rollover after the close of trading yesterday which had a net effect of -23.78 basis points. As with all rollover coupons, take the chart patterns below with a grain of salt.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates … (0 comments)

fha: Mortgage Rate Update 9-18-12: Trends Projections & Todays Lowest Rates - 09/18/12 01:18 AM
After last Thursday's banner improvement day, we have seen mortgage pricing gradually increase with 51 & 15 basis point worsenings on Friday and Monday respectively.
This daily mortgage interest rate report is provided to equip Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front … (0 comments)

fha: Mortgage Rate Update 9-4-12: Trends Projections & Todays Lowest Rates - 09/04/12 01:28 AM
What a great way to end the week as the Labor Day holiday weekend began on the heals of a 48 basis point improvement!  We are off to a strong start again today. Might want to hold off on locking until we see if this trend continues!
This daily report is provided to you each day as a resource to provide transparency to what is really happening with mortgage rates. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES … (0 comments)

fha: Mortgage Rate Update 8-29-12: Trends Projections & Todays Lowest Rates - 08/29/12 05:31 AM
For the second day in a row, interest rates have begun to creep back up. Currently, we are up 12 basis points for the day. Too much further momentum in this direction will likely trigger mid-day rate increases for many Lenders across the country.
This daily report is provided to you each day as a resource to provide transparency to what is really happening with mortgage rates. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand … (0 comments)

fha: Mortgage Rate Update 8-28-12: Trends Projections & Todays Lowest Rates - 08/28/12 02:04 AM
The market has opened in fairly turbulent fashion this morning. According to at least one analyst, it is recommended to lock in pricing today for short term loans given a forecast for slight rate hikes later in the week.
This daily report is brought to you in an effort to provide transparency with regards to mortgage rates. Feel free to browse the library and research historical rate updates dating back nearly 2 years at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates … (0 comments)

fha: Mortgage Rate Update 8-27-12: Trends Projections & Todays Lowest Rates - 08/27/12 01:25 AM
The great rate improvements of last week came to a screeching halt on Friday with a whopping 36 point loss. Although rates are still hovering at historic lows, we are all hoping Friday's trend halts quickly.  Thus far, today's market is up 6 basis points.
Did you know you have a free resource to research interest rates each day? You can even access a chronological database of these reports at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get … (0 comments)

fha: Mortgage Rate Update 8-24-12: Trends Projections & Todays Lowest Rates - 08/24/12 01:38 AM
Should you lock in mortgage rates today?  This week's rally took a turn for the worse yesterday afternoon, only to continue this morning.  Today might be a great day to lock-in rates for short term financing now that we have gained back some of last week's losses.
Did you know you have a free resource to research interest rates each day? You can even access a chronological database of these reports at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you … (2 comments)

fha: Mortgage Rate Update 8-23-12: Trends Projections & Todays Lowest Rates - 08/23/12 01:08 AM
Yesterday was a banner day for mortgage rates (in favor of the Consumers). We had a whopping 49 basis point improvement which caused the market to repeatedly re-price mortgage rates for the better!  We have already opened today with additional improvements.  Did you, or someone you know "panic lock" last week?  If so, you might have better options today to re-lock.
You can access a chronological database of these reports at www.JasonGordon.info whenever desired.  Also, make sure to learn about THE TRUTH BEHIND MORTGAGE QUOTES to better understand the relationship between up-front closing costs and mortgage interest rates so you don't … (1 comments)

 
Jason E. Gordon, Sr. Loan Officer, CMPS, CDLP, RCS-D, CDPE, CMHS (AmeriFirst Financial Inc, San Diego, CA) Rainmaker large

Jason E. Gordon

Sr. Loan Officer, CMPS, CDLP, RCS-D, CDPE, CMHS

San Diego, CA

More about me…

AmeriFirst Financial Inc, San Diego, CA

Address: 12544 High Bluff Drive, Ste. 100, San Diego, CA, 92130

Office: (858) 461-7007

Mobile: (619) 200-8031

Email Me

Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon Blog Google+


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