New FHA Insurance Rules May Affect Your Financing

Recent changes in FHA mortgage insurance provisions will make a difference when you’re deciding what loan program you want to use to finance your home. Lenders acquire mortgage insurance to protect themselves against customers who default on their loans. With an FHA loan, customers pay the mortgage insurance premium as part of their monthly payments. … Continue reading New FHA Insurance Rules May Affect Your Financing

FHA’s Back to Work Program Waives Waiting Periods

The Federal Housing Administration (FHA) recently announced its “Back to Work” program, which is giving individuals who suffered a long period of hardship during the recent housing crisis a second chance to prove they can carry a mortgage and own a home. The program will waive many of the waiting periods associated with a significant … Continue reading FHA’s Back to Work Program Waives Waiting Periods

HARP Program Extended

HARP Program Extended Last week, the FHFA directed Freddie Mac and Fannie Mae to extend the HARP program for another two years. The program was set to expire for all mortgage applications received on or after December 31, 2013. The new cutoff date will be for applications with received dates by December 31, 2015. What … Continue reading HARP Program Extended