Are you considering a FHA mortgage? Here we discuss the ins and outs of what a FHA mortgage is and how to obtain the best possible terms on your next FHA refinance or purchase transaction. The Streamline Refinance program, tips and maximum FHA loan amounts.
As a First Time Home Buyer you have several loan program options when it comes to financing your home purchase. The two most popular options are either a Conventional loan or a FHA loan and both offer programs with a low down payment option. Even with a 580 or higher credit score. The idea of the traditional 20% down payment … Read more
Through various mortgage lenders the Federal Housing Administration (FHA) offers low FHA mortgage rates in California for those with less than perfect credit and/or those with loan down payments. Before the 2008 mortgage crisis FHA mortgages in California were a small percentage of the market. Currently FHA is a major player as homeowners and home buyers look for alternatives to … Read more
The FHA home loan program is one of the most popular loan programs in California. If you have a credit score above 620, a 3.5% down payment (which can be gifted), and a job with steady income you might qualify for a FHA loan. Some qualify with below a 620 credit score. The FHA home loan program is the loan … Read more
Refinancing your current FHA mortgage is a simple step by step process that usually can be completed in less than 30 days. As a homeowner you have several options open to you and it’s important you have a good understanding of what’s out there before you move forward. Do you currently have a FHA mortgage and are you looking to … Read more
One of the great refinance programs in the mortgage industry is the FHA Streamline Refinance program. It just may be the easiest and most efficient way to refinance a mortgage. Thousands of homeowners every year decide to access the program which allows a homeowner to lower their interest rate which puts them in a better financial situation. Some homeowners save … Read more
FHA Mortgage Insurance (MI) is an insurance policy the homeowner pays in case of default. There are two forms; the first is a one time upfront amount at the time of closing and the second is a monthly amount that is attached to your mortgage payment each month. MI is apart of every FHA home loan issued. MIP is one … Read more