fha: Your Guide To A Cash-Out Home Refinance Loan
- 09/03/18 09:51 PM
With the appreciation in home values in recent years, many homeowners now have a significant equity position in their homes.
As a result, depending on the use of the funds, it could make sense to tap into your home’s equity, to perhaps take out funds to consolidate debts, remodel your home or pay for other unexpected expenses.
In this article we will explore some of the basics of the cash out refinance, by taking a quick look at three main loan types: Conventional, FHA and VA loans and how they each differ when it comes to a cash out refinance. In addition, … (0 comments)
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fha: FHA Home Loan Limit Changes – Increased For 2018
- 12/09/17 12:28 PM
FHA home loan limits have been increased for the majority of counties in the United States. Here in Arizona in Maricopa and Pinal counties the FHA home loan limit has been increased to $294,515, from the previous loan limit of $279,450.
What the essentially means for buyer’s, is that with the minimum 3.5% down payment, you can now qualify for an FHA home loan, with a purchase price about $15,000 higher than previously.
With that 3.5% minimum down payment on an FHA loan, buyers can now purchase a home just over $305,000.
This is the second year in a row that HUD … (0 comments)
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fha: FHA Loan Limits To Decrease January 1, 2014
- 12/10/13 04:00 PM
FHA loan limits are set to decrease in many counties throughout the country and we will feel the effects of these changes here in Arizona. Every county besides Coconino County in Arizona, will have an FHA loan limit of $271,050 for new FHA home purchase loans after January 1, 2014.
In Maricopa and Pinal County here in Arizona the FHA loan limit had been at $346,250 in recent years. Thus, this new decrease will see a $75,000 plus reduction in the maximum FHA loan. This change means that with a 3.50% down payment the maximum purchase price a … (0 comments)
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fha: Home Mortgage - Loan Limits Stay Constant For 2014
- 11/14/13 01:31 PM
The 2014 Calendar year is right around the corner and all home mortgage loan limits are set to remain constant for the 2014 fiscal year.
Conventional loan limits, those loans backed by Fannie Mae and Freddie Mac will remain at $417,000 in non high-cost areas. With any loan above this level remaining a Jumbo loan.
FHA loan limits will also stay constant. In 2014, in Maricopa and Pinal counties here in Arizona the FHA loan limits will remain at $346,250. FHA loan limits do vary by county, so for other areas, you must check with HUD to see your … (0 comments)
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fha: Waiting Periods Required To Purchase A New Home: After Foreclosure or Short Sale
- 12/20/12 03:53 AM
One question that we seem to be asked more and more is in regard to the waiting period that one must wait after foreclosure or short sale to purchase a new home. And the answer is, “it depends.” In reality there are a lot of factors that go into qualifying for a new home loan, whether it be to purchase or refinance a home. After one of these events, the waiting period will vary depending on whether you had a short sale or foreclosure, what the circumstances were surrounding it and what type of new loan you are wanting to … (0 comments)
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fha: FHA Mortgage Insurance Premiums To Change
- 08/05/10 08:45 AM
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fha: FHA Down Payment Potential Increase: Bill Introduced In Congress
- 11/10/09 03:05 AM
FHA Down Payment Potential Increase:
Bill Introduced In Congress
The minimum down payment for borrowers looking to obtain an FHA loan for the purchase of a home currently sits at 3.5%. However, a bill introduced to congress last month by Representative Scott Garrett, a New Jersey Republican, aims to increase the down payment to a minimum of 5%.
In addition, the new bill would also prohibit the FHA from letting borrowers roll their closing costs into the outstanding balance of the loan. Thus, further increasing the minimum out of pocket contributions by home buyers.
This comes at a time where FHA … (0 comments)
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fha: Keys To Qualify For A Home Purchase Loan: What You Need In The Current Market
- 04/20/09 04:59 AM
Keys To Qualify For A Home Purchase Loan: What You Need In The Current Market With home prices having decreased significantly, home buyer tax credits and the lowest interest rates in a generation, home affordability has dramatically increased. As a result we have seen a tremendous increase in the amount of new buyers ready to purchase a home now. However, the main question that many of them have is what do I need, in order to be able to purchase a home in the current market? This answer will vary slightly, but here are a few things that everyone will need … (1 comments)
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fha: FHA Loan Limits Raised Again: Additional Homes Will Qualify For FHA Financing
- 02/26/09 05:33 AM
FHA Loan Limits Raised Again: Additional Homes Will Qualify For FHA Financing
With signing of the American Recovery and Reinvestment Act of 2009 into law by President Obama, FHA loan limits have been reinstated to the loan limits of 2008. What this means is that Maricopa and Pinal will have their loan limits raised from the current level of $271,050 back to $346,250. This will help more homeowners be able to qualify for an FHA loan in 2009 for both the purchase and refinance of a home loan.
FHA financing still has some of the lowest down payment requirements of all … (3 comments)
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fha: FHA 203K LOAN FACT SHEET: The Basics On The FHA Streamline Repair Loan
- 01/22/09 12:50 PM
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fha: FHA LOAN LIMIT AND DOWN PAYMENT CHANGES: And The Current State Of Long And Short Term Interest Rates
- 09/16/08 04:05 AM
In what has been another intriguing week in the future of the U.S. economy, we are on the verge of many more changes. Following the governments take over off Fannie Mae and Freddie Mac a week ago, we have seen long term interest rates move to their best levels this year. Unfortunately, that was also followed by the collapse of companies such as Merrill Lynch and Lehman Brothers, with more to come. So, in today's turbulent market what items should we be concerned with in the short term?
FHA LOAN LIMIT CHANGES
Currently in Maricopa and Pinal Counties in Arizona, … (1 comments)
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fha: FHA ANNOUCES NEW MORTGAGE INSURANCE PREMIUMS: Effective October 1ST Costs Go Up And Down
- 08/29/08 08:53 AM
On July 14, 2008 HUD put into effect a risk based premium structure on FHA loans. This new structure allowed borrowers with better credit and lower loan to value mortgages the ability to pay lower rates, while riskier loans carried higher mortgage insurance rates.However, with the Housing and Economic Recovery Act of 2008 going into effect on October 1, 2008. Congress has put in place a one year moratorium on risk based mortgage insurance premiums on FHA loans. Meaning that the system that HUD and lenders nationwide had just spent millions of dollars implementing would be going away less than … (0 comments)
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fha: PROPOSAL TO REINSTATE DOWN PAYMENT ASSITANCE AND RISK BASED PRICING FOR FHA
- 08/02/08 08:22 AM
PROPOSAL TO REINSTATE DOWN PAYMENT ASSITANCE AND RISK BASED PRICING FOR FHA
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An Incentive For Home Buyers To Purchase Now
In the past two weeks, we have provided a great deal of information on H.R. 3221, The Housing and Economic Recovery Act of 2008. This bill will provide many provisions aimed at helping the housing market recover and include: a new FHA refinance program for homeowners who are upside down in their homes, a home buyer tax credit, permanent raises to the conforming loan limit and a nationwide mortgage broker licensing system.
In addition, the new bill provides for the … (0 comments)
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fha: UPDATED FACT SHEET: FHA TO PROVIDE ADDITIONAL MORTGAGE ASSISTANCE TO STRUGGLING HOMEOWNERS
- 07/31/08 12:58 PM
We have received many requests in the past week to provide additional information on the new housing rescue bill that was just written into law this past week. Specifically, we have seen a great deal of interest in the new FHA loan that will help borrowers refinance their properties with negative equity (please see our past articles at www.activerain.com/blogs/vbkamb for past articles). While the full guidelines for this program have not been released as of today, we have seen a fact sheet from the Federal Housing Administration that we will share with you below. Additional information will be provided as it … (1 comments)
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fha: HOUSING RESCUE BILL: Additional Provisions Effect on the Housing Market
- 07/28/08 04:09 AM
HOUSING RESCUE BILL:
Additional Provisions Effect on the Housing Market
Last week we provided information on the latest Housing Rescue Bill (see http://activerain.com/blogs/vbkamb for a copy of the article) and the sweeping changes it will provide. Those new measures include a new FHA refinance program for homeowners who are upside down in their homes, a home buyer tax credit, permanent raises to the conforming loan limit and the elimination of down payment assistance. With the Senate passing this bill on Saturday, all which is left is President Bush to sign it into law.
All of the provisions in the new … (0 comments)
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fha: HOUSING BILL TO CREATE SWEEPING CHANGES: Many Homeowners May Benefit From New FHA Loan Program
- 07/24/08 03:31 AM
HOUSING BILL TO CREATE SWEEPING CHANGES:
Many Homeowners May Benefit From New FHA Loan Program
The House on Wednesday voted 272-152 to pass sweeping legislation that will offer up to $300 billion in assistance to troubled homeowners and throw government support behind mortgage finance giants Fannie Mae and Freddie Mac.
The almost 700-page bill will then head back to the Senate for a final vote and approval. The timing of this vote will likely occur within the next few days. However, the Republicans are expected to filibuster the bill.
In the end however, the bill is expected to pass in both … (0 comments)
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fha: MORTGAGE REFORM BILL ONE STEP CLOSER: PLAN TO HELP AVOID FORECLOSURES & LIMIT TAX PAYER RISK MOVES FORWARD
- 05/20/08 03:54 PM
MORTGAGE REFORM BILL ONE STEP CLOSER:
PLAN TO HELP AVOID FORECLOSURES & LIMIT TAX PAYER RISK MOVES FORWARD
Congress has moved a step closer to expanding government efforts to help at-risk homeowners.
The Senate Banking Committee voted 19-2 to pass a bill to limit foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac.
"Many thought we couldn't do this - that it would be a partisan exercise. I hope we've avoided that; I believe we have," said Banking Committee Chairman Christopher Dodd, D-Conn.
Pressure has been building in Washington to … (0 comments)
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fha: Economic Stimulus Package To Be Signed Into Law: How it will affect Freddie, Fannie & You
- 02/12/08 10:09 AM
Economic Stimulus Package To Be Signed Into Law
How will it affect Freddie, Fannie, FHA & You
President Bush is set to sign a $152 billion economic stimulus package into law this week. The bill will provide tax rebates of $600 for individuals (earning under $75,000) or $1,200 for couples (earning under $150,000), plus $300 for each child. Lower income people, including retirees on Social Security and disabled veterans who pay no income taxes, would receive checks of $300.
Also included in the bill and of more importance in regards to the real estate market are temporary raises to the conforming loan … (3 comments)
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fha: FHA HOME LOAN REFORM ACT
- 01/02/08 11:12 AM
FHA HOME LOAN REFORM ACT
Senate votes to lower down payments and increase loan amounts for FHA
This new bill could open the door for borrowers who are looking to purchase homes whom either did not have the down payment or needed a larger loan amount then FHA loans would allow. This would also be a major win for consumers looking to refinance into programs such as FHA Secure, but owed more than prior FHA loan limits.
For more information contact Bill Kamboukos and Carlos Felix of Strategic Mortgage at (480) 219-3682 or by emailing: info@strategicmtgaz.com or online at www.strategicmtgaz.com
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fha: Strategic Mortgage Unveils Program to help homeowners
- 12/18/07 07:06 AM
Strategic Mortgage has unveiled a program to help borrowers in the current market. The program consists of loan programs to help borrowers of all types:
1) If you are a homeowner looking to refinance take advantage of 30 yr. fixed rates at 2 year lows, now is the time to contact Strategic Mortgage. Ask about their low rate guarantee.
2) If you are a homeowner who is behind on payments on an adjustable rate mortgage, we have a program to help you refinance into a home loan with a good interest rate. Ask about the adjustable rate refinance program.
3) If you are a homeowner who owes … (2 comments)
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