Subscribe to
Posts
Comments

Archive for the 'FHA' Category

President Bush annouces FHA secured loan that will bail out Delaware Home Owners

Posted in Delaware Mortgage Rates, Mortgage News, Newark Delaware, Wilmington Delaware, New Castle Delaware, Adjustable Rate Mortgage, Delaware Mortgage Loans, Delaware Sub-Prime Mortgages, FHA, Bear Delaware, Dover Delaware, FHA Loans, Lewes Delaware, Rehoboth Delaware, Delaware Foreclosures on September 5th, 2007 6 Comments »

On August 31, President Bush annouced that HUD will help families avoid Foreclosure by providing a brand new FHA loan called the FHA Secured loan.  This loan will directly impact Delaware Home Owners facing foreclosure.  Under the new FHASecure plan, FHA will allow families with strong credit histories who had been making timely mortgage payments […]

FHA Loans - Mortgage Insurance

Posted in Delaware Mortgage Rates, Mortgage Insurance, Real Estate Investing, Mortgage Education, Newark Delaware, Wilmington Delaware, New Castle Delaware, First Time Home Buyer, Delaware Mortgage Loans, FHA, Bear Delaware, Dover Delaware, FHA Loans on July 26th, 2007 No Comments »

FHA does not fund loans directly; rather, it provides a guarantee to the lender against default.
There are two separate fees that HUD collects to provide a level of guarantee coverage to the lender:

Up-front mortgage insurance premiums (UFMIP).

Monthly renewal mortgage insurance (monthly MI).

The up-front mortgage insurance premium, if required, will be 1.5% of the base loan […]

Fannie Mae makes it tougher for First Time Home Buyers in Delaware

Posted in Delaware Mortgage Rates, Mortgage News, Newark Delaware, Wilmington Delaware, New Castle Delaware, First Time Home Buyer, Delaware Mortgage Loans, FHA on June 13th, 2007 No Comments »

Fannie Mae made significant changes to its Desktop Underwriting (DU) for My Community programs.  The guidelines have changed to make it harder for first time home buyers to qualify for a mortgage to purchase a home with little to no money down.  The guidelines took effect May 19th.  Borrowers who qualified before May 19th, may […]

« Prev -