Fha increasing loan costs

Fha increasing loan costs Most borrowers will face well over a point in additional fees .  Costs for lower credit scored borrowers were not increased, while those in the 680-759 score range (the majority of borrowers) face the stiffest hikes.  A home buyer with a...
FHA eases credit rules

FHA eases credit rules

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. Now they have made it one year. There are restrictions, however. You must show that your situation was caused by external forces that reduced your...

FHA loans getting more expensive

For the third time in a year, FHA is increasing its fees on the mandatory Mortgage Insurance Premium. In addition, it will be with you for the life of the loan. You used to be able to dump it when you gained equity. If you are a lesser qualified borrower, you will pay...

FHA extends anti-flipping

It was supposed to expire at the end of the year. If you flipped a house within 90 days, you could not sell to someone who is getting an FHA loan. In the 90’s there was a lot of hanky panky going on. In its usual way, the govt went overboard the other way but...

Lenders Reluctant to Issue FHA Loans

It’s even tougher than ever to get a 3.5% FHA loan. You are more likely to fall into the traditional 10% down.. To get the lower downpayment your fico would have had to be 701 on average. Lenders have grown increasingly concerned about aggressive regulator...