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    • fha mortgage loan FAQ

    what are the total charge to the borrower for an fha mortgage loan?

    Jul 30, 2010 by Gaetano | Posted in Renting & Real Estate

    I went to refinece my home and the mortgage company wants to charge me 7100.00 dollar. they said fha loans cost 2.25% of the loan which that comes to 5200.00 dollar, something is wrong.thank you

    The cost to you for a refinance would depend on several factors. The value of your home would determine the points a lender/mortgage broker would charge for doing the mortgage loan. A point charged a borrower for a home valued at $520,000 being refinanced

    loanmasterone | Jul 30, 2010

    No sounds about right to me.
    Realtoratheart | Jul 30, 2010

    I am applying for an $81k FHA mortgage loan. What kind of interest rates will I get?

    Dec 18, 2008 by Patricia A | Posted in Renting & Real Estate

    My wife and I are purchasing a foreclosure and got preapproved for a loan for $90k. I will actually only need $81k for the FHA loan. My credit is around a 650 and hers is around 670-700 range. What kind of interest rates will we get approved for? I know

    The news is reporting 4.5 percent interest on a 30 year fixed.
    With your credit score I would expect about 5 to 5.5 percent.
    An FHA will not have PMI...............

    Mikey | Dec 18, 2008
    Is This FHA Mortgage Loan a Good Deal?

    Nov 01, 2009 by Sam S | Posted in Renting & Real Estate

    My wife and I are first time home buyers, and we want to tap into this buyer's market. We spoke with a Wachovia representative a couple days ago, and we are considering the following FHA loan:

    For a $200,000 house-
    1. 15% down payment,

    FHA mortgage loans are very good. The one draw back I have against a FHA mortgage loan is there is MIP sorta like PMI, that last the life of the loan no matter the balance of your mortgage loan.

    Your MIP might be tax deductable depending

    loanmasterone | Nov 01, 2009

    fha mortgage loan news

    Mortgages - FHA: Pay Down Debt First

    18.05.12

    If you’re thinking about applying for a mortgage loan from the Federal Housing Administration – or refinancing your current loan – you may soon have a new roadblock. If you owe more than $1,000 in debt that’s in collection, an FHA loan will be off limits to you starting this summer, due to a controversial new rule that goes into effect July 1.


    Source: San Angelo Standard Times

    Donovan: Congress needs to pass refinancing legislation

    18.05.12

    Legislation is urgently needed to help more homeowners refinance their mortgages, prop up the housing market and boost the economic recovery, a top Obama administration official said Tuesday on Capitol Hill. 

    Housing and Urban Development Secretary Shaun Donovan told lawmakers that there is a small window of opportunity to help potentially millions of homeowners refinance their loans into lower interest rates. 


    Source: The Hill (blog)

    Bank of America Extends Modification Offers Under Global Servicer Settlement

    18.05.12

    CALABASAS, Calif., May 08, 2012 (BUSINESS WIRE) -- Bank of America Home Loans has begun reaching out to customers who may be eligible for forgiveness of a portion of the principal balance on their mortgage under terms of a recent settlement among five major banks, 49 state attorneys general and the federal government.


    Source: MarketWatch (press release)

    fha mortgage loan about


    FHA and Fannie Mae offer loans for home energy improvements
    Los Angeles Times - May 01, 2011 If property values in the area decrease, the loans could put owners into negative equity territory. Fannie Mae's "energy improvement" mortgage add-on program is significantly different from the FHA's. Rather than a separate loan to finance the energy

    FHA, Fannie Mae programs back loans for energy-efficient upgrades to your home
    Washington Post - Apr 29, 2011 FHA, Fannie Mae programs back loans for energy-efficient upgrades to your home Fannie Mae's “energy improvement” mortgage add-on program is significantly different from the FHA's. Rather than a separate loan to finance energy retrofits, Fannie folds the cost of the improvements — capped at up to 10 percent of the estimated

    Process for loan reflecting changes
    Columbus Dispatch - May 01, 2011 You'll probably pay more for the loan. Costs to close a loan that meets Fannie Mae, Freddie Mac or FHA standards have all risen since the mortgage meltdown. Such costs are based on different factors — in the case of FHA, it's rising insurance premiums

    Northwest Indiana Experts are your Best Source for Mortgage Lending
    nwitimes.com - Apr 27, 2011 Northwest Indiana Experts are your Best Source for Mortgage Lending According to Snyder, FHA loans now account for as much as 75 percent of the nation's mortgage business, essentially making it easier for all borrowers. FHA is the choice loan of first time homebuyers, since a down payment of as little as 3 ½ percent is

    Mortgage Rates, Loan Applications Fall
    Housing Predictor - Apr 27, 2011 Mortgage Rates, Loan Applications Fall The composite index, a measure of mortgage loan volume dropped 5.6% for the week as purchases dropped the most since last February. The fall-off in FHA loans was especially dominant, composing a 26.6% drop of all applications for new home mortgages.