FHA on Friday issued new guidance requiring lenders to obtain a second appraisal in the event the property value appears inflated. Homeowners seeking a reverse mortgage may have to undergo a second appraisal in some circumstances, as a result of new guidance from the Federal Housing Administration ... » Learn More about The federal government is cracking down on reverse mortgages
Mortgage Tips
Just when is it Alright to utilize your homes equity?
Mainly because rising home values, many home-owners discover that they're sitting on a record sum of home equity that they can access by refinancing or obtaining a second mortgage. However, all of us have been shy about making use of that wealth, in part mainly because the home prices decreases ... » Learn More about Just when is it Alright to utilize your homes equity?
Rates on mortgages increase for third consecutive week
The one-two punch of strong job and consumer credit growth drove rates on mortgages up to their highest mark since Aug. 2. The common 30-year fixed-rate mortgage was at 4.6% this week, as the 15-year hit 4.06%. The 5/1 adjustable-rate mortgage was 3.93%. Rates on mortgages increase for third ... » Learn More about Rates on mortgages increase for third consecutive week
Why 2018 is the perfect year ever to get a low down payment mortgage
First-time buyers must take action now before conditions change. This year might just be the best of all time for first-time home-buyers to make use of a low down payment mortgage to leap from renting to owning. Either simply because they don’t have knowledge of low down payments or don’t ... » Learn More about Why 2018 is the perfect year ever to get a low down payment mortgage
90% of US Counties Will Receive FHA Loan Limit Boost
Loan limits are going to be rising in 2018 for loans guaranteed by the FHA. The Department of Housing and Urban Development (HUD) announced on Thursday that it was boosting limits for those loans in more than 3,000 counties. This provides FHA loans consistent with those of Fannie Mae and Freddie ... » Learn More about 90% of US Counties Will Receive FHA Loan Limit Boost