fha mortgage: 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 mortgage: FHA Loans...Buyers Be Warned! You May Want To Act Now. - 01/20/10 12:03 PM
Amidst the rising foreclosures in our country, the Federal Housing Administration has seen dramatic losses and its reserves have fallen below Congressional required levels. 
In response, FHA is raising fees and tightening lending standards in an effort to bring more revenue to the agency and continue to keep FHA loans available to YOU, the consumer. 
If you are waiting to purchase a home during the Spring/Summer market, you will be amongst the borrowers affected by the new changes.  It may be time to get off the fence now, instead of later! 
Although specific dates have not yet been announced, here is a snapshot of the upcoming … (1 comments)

 
Sherri Sherpy, NMLS #287770 (iLoan)

Sherri Sherpy

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