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.
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
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
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
Throughout the year FHA home loan guidelines are updated to meet the ever changing marketplace. Our FHA home loan guide offers the following: Understanding what a FHA home loan is: We cover the basic definition of what is a FHA loan. We also cover the differences between a FHA loan and a Conventional loan. How you can use a FHA … Read more
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
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