fha: FHA Financing?
- 12/31/09 12:35 PM
Yes! It's a great way to go. FHA loans usually require a little lower credit score, only 3.5% down and they also currently have great rates! There are still more reasons to take a long look at an FHA loan for your home. The FHA has loosened its appraisal guidelines which were very stringent in the past. Some of the fees that were not negotiable before, now are. They are allowing down payment assistance programs that are not seller funded. Last, here are some really tantalizing reasons for using FHA. Sellers can finance up to 6% of the buyer's closing costs, homeowners can … (0 comments)
fha: Mortgage 102
- 07/23/08 10:16 AM
Since there is so much to know about mortgages, here's the second in my mortgage series. First, I have some more definitions for you. Annual Percentage Rate (APR) An interest rate that shows the total cost of your mortgage in an annual rate. This rate will usually be higher than your stated loan rate because it includes other items such as points and fees. Sometimes this rate is a better way to compare loans than using the stated rate, but beware. All mortgage companies do not calculate this rate in the same manner. Earnest Money Money paid along with an … (0 comments)
Yes! It's a great way to go. FHA loans usually require a little lower credit score, only 3.5% down and they also currently have great rates!;)
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