fha financing: FHA Mortgages: Enough Already! - 01/13/12 09:57 AM
Borrowers are going to pay more for an FHA loan in 2012.  FHA mortgage insurance premiums are going up AGAIN.  This change could possibly take an approved loan file straight to the DENIED bin.
The recent, signed legislation to extend the payroll tax deduction means an increase in FHA’s mortgage insurance premium.  The FHA (Federal Housing Administration) has 2 charges to the borrower:
·        Up Front Mortgage Insurance, which is currently 1% of the loan amount
·         Annual Mortgage Insurance, currently at 1.15% and slated to increase to 1.25%
How could this affect you?
It could end in loan denial.  Namely, … (0 comments)

fha financing: Ready To Sell That Flip? Not So Fast, Big Guy… - 10/02/10 04:38 PM
You've just completed the renovations.  New paint, carpet, kitchen, bathrooms, you name it.  You took a nasty dwelling and completely transformed it into "home-sweet-home" for that buyer lucky enough to reap the benefits of your hard work and skill.  AND YOU DID IT IN RECORD TIME.  Two months after your acquisition, you are ready to throw up the FOR SALE sign.  Woot!  Life is good.
 Okay, maybe not that good...
 Have you considered the buyer pool in your market?  Have you thought about who your buyers are?  How knowledgeable are you and your listing agent on current financing guidelines?  The fact … (6 comments)

Sherri Sherpy, NMLS #287770 (iLoan)

Sherri Sherpy

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