Tag Archives: Federal Housing Administration

The FHA’s Short Refinance Program

A little-known program offered through the Federal Housing Administration can be a lifesaver for qualified borrowers who are underwater on their home loans. It’s called the Short Refinance Program, and it’s the FHA’s way of offering a mortgage refinance loan that is manageable even for home owners with a poor loan-to-value ratio. The program is only available to borrowers who are current on their payments, but who owe more on… Read More »

HUD Gives Grant To Four Southern California Communities

If you are moving forward as a FHA 1st time home buyer and currently looking within the areas of Orange County, Los Angeles, and or Ventura County, then you will want to know about the recent announcement made by the Federal Housing Administration and the Department of Housing and Urban Development just a few days ago. As of December 9th, the Federal Housing Administration and U.S. Secretary Shaun Donovan for… Read More »

Purchase a home through low rate mortgage lenders

he Federal Housing Administration is a department in the government that gives new homebuyers and people with low credit scores, the chance to purchase a home through low rate mortgage lenders. The way it works is an applicant will apply to the Federal Housing Administration (FHA) for a loan. The FHA won’t give the new homebuyer a loan, but they will give them a chance to get a loan through… Read More »

Thinking about buying a home? Know your terminology

Are you considering buying a home in California? If you are, it’s important to familiarize yourself with key terminology commonly used within the mortgage loan industry to help understand all the ins and out’s about what the application and approval process entails, what it means to have your future home appraised, its’ market value, how you benefit from having an FHA loan, and what PITI actually stands for. To help… Read More »

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

As compared to conforming loans and jumbo mortgages, Federal Housing Administration (FHA)-backed loans are popular for several reasons. FHA allows a 3.5% downpayment FHA allows refinances without appraisal FHA mortgage rates are usually really low Relative, though, one place where FHA mortgages can fall short is with respect to mortgage insurance. As compared to loan types including conventional, USDA and military loans, FHA mortgage insurance premiums (MIP) are sometimes cumbersome and costly.… Read More »

How to Get a Home Loan With Low Income

Those who have low-income will always face problems when it comes to getting approved for home loans. And it is not only with mortgages, but also with getting approved for credit cards and other type of loans. However, this does not mean that all is completely lost if you have low-income, and you would want to own your own home. There are a few steps you can take to get… Read More »