What is a “no cost” FHA Loan?
The closest thing to a no cost FHA loan is a streamline refinance though this is changing very soon just like so many other things in the loan and mortgage world. A streamline has been done in the past without an appraisal and credit is pulled to verify that the mortgage has been paid over [...]
FHA Loans is Once Again a Winner
Not long ago, loan officers were laughed at if they recommended their clients go with a FHA loan. Most Realtors and customers alike were under the impression that a FHA loan was harder to close and harder to get an appraisal approved. Though that was true at one time, over the last three to [...]
More FHA Changes Coming
The government continues to make changes to the FHA program and the people I have talked to don’t think the changes are over with as of yet. Though these changes are supposed to help people continue to get into homes and to protect them, I’m not sure there are any changes that can protect [...]
Go to the Source if You Have Questions
One of the best places for anyone to go for the real answers is the official FHA (Federal Housing Administration) website; HUD.com. The only challenge is to figure out which section proteins to your question or concern. It is easier if you look to the left hand side of the page and choose the [...]
The Predators Are Out Again
In the last week I have had three of my past clients call me because they had received either a letter in the mail or a phone call from someone promising them to better their interest rate and payment through a refinancing their current home loan. Each one of these families have either purchased [...]
Feds Cut Rate Again by .500
I have already been called this morning and asked if interest rates are going to fall again. My answer, I have no idea. Interest rates are not following normal historical indicators so no one that I know feels confident in predicting what might happen. It also takes anywhere from 6 to 12 months [...]
THDA Great Rate Program
The THDA Great Rate program is a program designed for those who either have 3 to 5% of their own money to put down or an expectable gift from an approved relative to cover the required down payment.
It is called the Great Rate program because it has the best rate of all the first time [...]
THDA Great Start Program
I want to do a series of blogs in regard to the THDA loan programs for first time home buyers. These programs are designed to help first time home buyers within a certain income ranges to purchase a home at a good interest rate. The first one I want to look at is the Great Start Program.
This [...]