FHA Mortgage Guidelines

What is an FHA Mortgage Loan? An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). An FHA loan is typically one of the easiest types of mortgage loans to qualify for because you can have less-than-perfect credit and the required down payment (3.5 percent) is lower than conventional … Continue reading FHA Mortgage Guidelines

USDA Loan Guidelines

What Are USDA Loans? The USDA Rural Development Loan Program, or USDA loans for short, are designed to make rural housing more affordable. USDA loan program eligibility depends upon applicant income and the purchase property location. The USDA Rural Housing program is for residential purchases and rate-and-term refinances only – no cash out refinancing. All USDA loans … Continue reading USDA Loan Guidelines

Major FHA Guidelines to Change in June 2013

With the new changes to FHA financing this year, I want to update you on what this will mean for you and the action you will need to take. There are some important dates to pay attention to. As of April 1, 2013, Mortgage Insurance premiums will be going up to 1.35% from 1.25% on … Continue reading Major FHA Guidelines to Change in June 2013