FHA Increases Fees to Save Programs?
August 10, 2010 by Bob Schenkenberger · 1 Comment
[facebook_ilike] It’s no secret that the housing crisis has strained Fannie Mae, Freddie Mac and the Department of HUD. So, congress just passed H.R. 5981. This bill gives FHA the authority to adjust its mortgage insurance rates to increase funding to the FHA Mutual Mortgage Insurance Fund. This move will immediately begin to yield $300 [...]
Advantages of FHA Loans vs. Conventional Loans
February 6, 2009 by Bob Schenkenberger · 1 Comment
If you are considering a home mortgage loan it is best to gather your own facts rather than rely on a loan provider to inform you. Once you have gathered facts you can meet with a loan officer armed with knowledge and the proper questions to obtain the best loan product for your needs. Knowledge [...]
FHA 203k(s) – “Streamline” 203k Program
December 15, 2008 by Bob Schenkenberger · 1 Comment
Are you looking at properties that need a kitchen in order to close? Or flooring? Or reinstallation of the copper piping? Or a new roof? Need to mitigate a former meth house? We offer the FHA 203k(s). This is HUD’s “streamline” 203k program, that allows the borrower to finance up to $31,000 into their purchase [...]
FHA Seller Funded Down Payment Assistance Going Away
August 1, 2008 by Bob Schenkenberger · 15 Comments
The housing bill that was signed this week included two major changes for FHA lending guidelines. The changes are scheduled to kick in on October 1, 2008. The first change is the minimum down payment requirement. Currently FHA loans require 3% down. On a $200,000 purchase this would be $6,000. The housing bill will increase this minimum [...]
The “Housing and Economic Recovery Act of 2008” signed by President Bush
July 31, 2008 by Bob Schenkenberger · 7 Comments
This week President Bush signed the $300 billion housing bill aimed at helping homeowners avoid foreclosure and it’s estimated that roughly 400,000 families will benefit. The changes are scheduled to begin October 1, 2008. It’s a very detailed bill but some of the highlights include: FHA Changes Mortgage limits for high cost areas will be [...]
FHA Increases Loan Limits
March 6, 2008 by Bob Schenkenberger · Leave a Comment
Just released; As of March 5, 2008, the Federal Housing Administration and HUD, have Increased the loan limits for FHA insured loans. In Denver and most of the surrounding counties the limit has increased to $406,250 for a single family residence. This increase should ease some of the pressure felt on the mortgage market. For [...]