fha: Minnesota First Time Buyers Seminar | April 12th, 2011
- 03/08/11 12:23 AM
Are you a Minnesota first time home buyer living near Woodbury? No matter where you are buying a home in Minnesota you’re welcome to attend our first time home buyer seminar. Learn everything you need to know to become a homeowner in an our 90 minute first time buyer seminar! In our seminars you will learn all about: How to buy a foreclosure in Minnesota How to apply for down payment assistance funds (for first time buyers) The benefits of FHA, VA, and Conventional home financing for your first home purchase The benefits of Minnesota Housing Finance Agency How to ask … (1 comments)
fha: FHA MIP Increasing
- 03/04/11 01:32 AM
For the third time in 12 months, the FHA is changing its mortgage insurance costs. Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points. The change will add $250 to an FHA-insured homeowner's annual loan costs per $100,000 borrowed, and applies to all borrower's equally. Current FHA borrowers are unaffected. To understand the FHA is to understand why premiums are rising. As an institution, the Federal Housing Administration plays a much larger role in the U.S. housing market today than it did just 5 years ago. According … (0 comments)
fha: FHA Mortgage Insurance Premiums Set To Increase April 18, 2011
- 02/15/11 01:52 AM
FHA annual mortgage insurance premiums will increase by one-quarter per cent on April 18th, 2011 according to FHA's Commissioner, David Stevens. The most recent FHA mortgagee letter says that the up-front mortgage insurance premium which is usually financed in a real estate transaction will remain the same at one per cent. "After careful consideration and analysis, we determined it was necessary to increase the annual mortgage insurance premium at this time in order to bolster the FHA's capital reserves and help private capital return to the housing market," said Stevens. "This quarter point increase in the annual MIP is a … (1 comments)
fha: Minnesota FHA Loan Programs: Part 2
- 02/12/11 06:15 AM
In the first part of this article we talked about many of the benefits of the FHA loan program in Minnesota. In this part we’ll talk some more about the unique aspects. Minnesota FHA Programs Most Minnesota buyers today are opting for the fixed rate programs offered by FHA. These are available in 30 year fixed rates as well as 15 year. While most buyers will shy away from adjustable rate mortgages (ARM) in a low rate environment for good reason, FHA also offers ARMs that become popular in a rising rate environment. With these loans the rate is fixed … (0 comments)
fha: FHA Loans Minnesota: Is an FHA loan right for you?
- 02/12/11 06:09 AM
When I bought my first home in Minnesota back in 1986 I took out an FHA loan for $68,000 at an interest rate of 10.5%. When I started originating home loans in 1991 I was helping Minnesota first time buyers obtain FHA loans on a regular basis. About 1 in 4 of the loans I was originating back then were insured by FHA and had rates around 8%. Over the last 3 years FHA has made a dramatic resurgence and upwards of two-thirds of my borrowers are opting for FHA loans now with interest rates less than half of that … (0 comments)
Are you a Minnesota first time home buyer living near Woodbury? No matter where you are buying a home in Minnesota you’re welcome to attend our first time home buyer seminar. Learn everything you need to know to become a homeowner in an our 90 minute first time buyer seminar! In our seminars you will learn all about:
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