Which is better- FHA loans, Fannie Mae loans or conventional loans?
FHA raised its monthly and upfront fees this spring, and also made borrowers’ monthly mortgage insurance premium (MIP) effective for the life of most loans. It used to be until you had more equity. This increased lifetime costs for FHA borrowers.
Read more on Government loans getting more expensive…
Up until now, FHA made people who filed bankruptcy or did a short sale or walked away, wait 3 years to get a new loan.
[dropcap style=”1″ size=”3″]S[/dropcap]outhern California home prices are the same in July from June as more houses went on sale and interest rates rose.The median sales price in the six-county region was $385,000 last month, unchanged from June, DataQuick said Wednesday.
The affordability of California homes is dropping rapidly as prices continue to soar and now higher interest rates are compounding the problem.
The California Association of Realtors® (C.A.R.) reported today that its Home Affordability Index (HAI) dropped 8 percentage points from the first quarter of 2013 to the second.
From a recent LA Times article
“After buying tens of thousands of single-family homes in beaten-down markets, major investment firms have quickly become major landlords”
New research from Morgan Stanley predicts that the buy-to-rent sector will grow from $17 billion now to $100 billion over the next several years. These companies have proved the business model viable and will be able to get debt financing to grow their stake in the suburbs, the analysts wrote.
Read more on Here we go again…