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FHA Loan Limits Increase – Fannie Mae says No Way?

Posted on 21. Nov, 2011 by in Market Reports

FHA jumbo loan limits ok

Don’t feel like reading?  Listen to this article instead! FHA loan limits were raised back up to $729,750 in high cost areas of California late last week. On October 1st, Fannie Mae and FHA loan limits were reduced to the new permanent high balance limit of $625,500. This move to reduce the maximum allowed loan [...]

ALERT: Loan Limit Changes October 2011

Posted on 11. Aug, 2011 by in Market Reports

Loan limit roll back 2011

Single-family loan limits are slated to adjust upon expiration of the temporary limit increases that were part of the Housing and Economic Recovery Act of 2008. Based on this “Difference in County Loan Limits” map, it looks like California is hit hardest with the most dramatic decrease in loan limits accross the board. See that [...]

Historic Low Rates Make FHA Streamline Serious Option Now?

Posted on 03. Aug, 2011 by in FHA Streamline

8-2-11 FHA Streamline Good

Updated August 2nd, 2011 – Yesterday we saw an unprecedented drop  of interest rates.  This now becomes a very realistic option! Original Article July 14th, 2010:  FHA Streamline refinance program is available to homeowners that currently have an FHA loan on an owner occupied home. FHA Streamline refinance loans are much quicker and easier than a typical [...]

FHA Monthly Mortgage Insurance Increase – Lock Lower Payments!

Posted on 22. Mar, 2011 by in FHA Home Loan

Lock in lower payment

I first wrote about FHA monthly mortgage insurance premiums rising again on February 21st, 2011. We are now less than 30 days away it getting more expensive to use an FHA loan to purchase your home. What you need to know The date of your FHA case number – You have the ability to secure [...]

UPDATE: Buy Again One Day Out of Short Sale?

Posted on 28. Feb, 2011 by in Buy Again

buy again after short sale

Last week I passed along a recent guideline update regarding FHA’s stance on allowing the financing of a new home purchase one day after closing a short sale that meets specific criteria. This week, after prodding and communicating with FHA about several scenarios, we have some clarity about what is allowed and what is not [...]

FHA Monthly Mortgage Insurance Premium Rises Again

Posted on 21. Feb, 2011 by in FHA Home Loan

fha mortgage insurance increase

On April 18th, 2011 FHA monthly mortgage insurance premium is rising again after the release of the administrations recent report to congress – Reforming America’s Housing Finance Market. Your monthly mortgage insurance premium will increase .25bps, an increase of 28% from .90% to 1.15%. Higher payments mean lower housing prices? Absolutely!  Affordability is a major [...]

CalHFA FHA Government Loan for First Time Home Buyers UPDATED!

Posted on 03. Feb, 2011 by in CalHFA First Time Buyer, FHA Home Loan, State Assistance Programs

California Housing Finance Agency

The California Housing Finance Agency (CalHFA) has added a new FHA government loan program for first time home buyers. CalHFA is the State of California’s first time home buyer program for the past 35 years.  The program was chartered as the State’s affordable housing bank to make low interest rate loans through the sale of [...]

FHA qualifying change October 4th 2010

Posted on 05. Nov, 2010 by in Consumer Protection, FHA Home Loan

FHA qualifying change

The housing industry and the mortgage side of the housing industry in particular is seeing a ton of changes. Available loan programs have dropped down to just a few with no new programs in the foreseeable future, no one really knows what home prices will do, rates are at just about their lowest point in [...]

FHA Streamline Refinance Just got Better?

Posted on 27. Oct, 2010 by in FHA Streamline

fha steamline refinance

FHA streamline refinance program has seen several new developments and at least one of the changes has been for the better. Prior to these changes one of the requirements in regards to the FHA streamline program, was that the sum of all the liens on the home not exceed the geographical maximum mortgage limit for [...]

FHA pre-approval no longer qualified?

Posted on 01. Oct, 2010 by in Consumer Protection, FHA Home Loan

FHA pre approval no longer qualified

You have an FHA pre-approval but may not be qualified as of October 4th, 2010. Changes to FHA guidelines may leave many home buyers unable to qualify. Could you imagine?  What an horrible surprise if you get your offer accepted and you are no longer qualified for an FHA loan? Why you may no long [...]

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