Currently viewing the tag: "FHA"

FHA MIP New Premiums Effective April 18, 2011

On March 4, 2011 By

FHA mortgage insurance premiums are changing for the third time in the past year.

Effective for all case numbers assigned on or after April 18th, an FHA loan will be more expensive.

Continue Reading →

Loans for first time home buyers getting expensive

On February 25, 2011 By

HUD has more changes coming for FHA loans. The MIP factors are going up by 0.25% across the board in April and this directly hits the most common loan program for first time home buyers.

Continue Reading →

Mortgage Rate Predictions: Week of June 1, 2010

On June 1, 2010 By

For the first time in five weeks, both conforming and FHA Chicago mortgage rates rose. The all-out global financial crisis was downgraded to a somewhat global financial crisis and we saw stocks gain at the expense of bonds, including mortgage backed securities.

Continue Reading →

FHA Up-Front Mortgage Insurance – Up 0.5% Monday, April 5, 2010

On March 30, 2010 By

The changes to the up-front premiums starts on Monday, April 5th.

There were three big announcements from the FHA early this year including:

(Upfront Mortgage Insurance [...]

Continue Reading →

2010 FHA Guidelines Make Borrowing Tougher And More Expensive

On January 21, 2010 By

Changes

Securing an FHA mortgage is about to get both more expensive and more difficult.

The policy statement hit yesterday and the Federal [...]

Continue Reading →

Changes to loans for first time home buyers

On January 21, 2010 By

In a statement issued Wednesday, the Federal Housing Authority outlined policy changes to its mortgage assistance program. The shift is meant to both reduce the government group’s portfolio risk while strengthening its overall financials. For consumers, the changes mean higher costs.

Continue Reading →

HUD Lifts 90 Day Seasoning Requirement for FHA

On January 19, 2010 By

Lifts 90 Day for

The Department of and Urban Development had already lifted the “seasoning requirements” for [...]

Continue Reading →

The Return of the Chicago 2-Flat

On September 28, 2009 By

There was a great article in the Chicago Tribune about five or six years ago. It spoke of the incredible values of the Roscoe Village 2-flat and how it had been a tried and true starter home for generations in Chicago. The rent would subsidize the mortgage and appreciation would compound on a larger home value.

Continue Reading →

Taylor, Bean & Whitaker – FHA FAQ's

On August 9, 2009 By

The federal goverment suspended the third-largest issuer of loans – Taylor, Bean, & Whitaker (TBW).  They funded $17 billion in the first half of the year and estimates put 20,000-30,000 loan applications in limbo.

Here’s a quick attempt on the FAQ’s:

Q: Did you use Taylor, [...]

Continue Reading →

FHA Rates v Conforming Rates

On July 1, 2009 By

The for and conforming loans have moved closer recently.

When we look at someone with perfect credit, single-family home and a 10% down payment, these loans are currently offering essentially the same rates in the [...]

Continue Reading →