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New FHA Streamline Refinance Guidelines
New FHA Streamline Refinance Rules St Paul, MN: Home owners with an existing FHA mortgage loan – rejoice. Washington has announced new guidelines to make it cheaper and easier for homeowners to...
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FHA Streamline loans getting cheaper
Minneapolis, MN: For certain FHA loan backed homeowners, refinancing via the FHA Streamline Refinance program is about to get a lot less expensive. Beginning June 11, 2012, FHA implements a new policy...
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Do You Qualify for a Mortgage?
Do You Qualify for a Mortgage? Minneapolis, MN: Every year, millions of potential new home owners ask the question, “can I qualify for a mortgage?” It’s a scary question for many people, but getting...
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FHA Announces Loan Fee Increases
Minneapolis, MN: Thinking of getting an FHA home loan? The Federal Housing Administration, commonly known as FHA just announced increases to mortgage insurance fees it charges homes owners by 10 basis...
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FHA Mortgage Insurance soon to be for life of loan
FHA Mortgage Insurance soon may be for life of loan Minneapolis, MN: The Federal Housing Administration (FHA) has announced that sometime in 2013, all new FHA insured mortgage loans will now require...
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Mortgage Rates remain near record lows – for week ending Dec 7, 2012
Mortgage Rates Ease Slightly, Remain Near Record Lows Minneapolis, MN: Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates easing...
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Popular FHA Loans to become more expensive
Minneapolis, MN: The popular FHA loans, requiring just 3.5% down payment are about to become more expensive. Starting on April 1, 2013, the mortgage insurance premium will go up by .1% to 1.35%. While...
View ArticleFHA Streamline refinance in MN and WI
The FHA Streamline Refinance program. No appraisal, no closing costs, easy qualifying, and even skip a month of payments. For FHA properties in Minnesota or Wisconsin, Apply online today at...
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New FHA Rules – 3 major changes coming soon
Minneapolis, MN: If you are a first-time home buyer, you may already be leaning towards an FHA-backed mortgage to finance your Minnesota or Wisconsin home. Recently, the Federal Housing Administration...
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20% down NOT needed to buy a home in Minnesota
St Paul, MN: Question. How much money do you think you need to put down to buy a home? If you answered anything higher than ZERO, your answer is wrong! Would it surprise you to learn that most...
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FHA Loans versus Conventional Mortgage Loans
Many folks are confused when it comes to loan options. What type of loan, FHA Loan, VA Loan, or maybe a Conforming Conventional loan? What about fixed rates versus adjustable loans? Here are some...
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FHA new Foreclosure forgiveness policy – Not what you think. Read why
How long after foreclosure for a new FHA loan? Recently FHA announced in mortgage letter 2013-26 the ability to FOREGO the current three year waiting period for previous Foreclosures and Short Sales...
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NEW FHA collection, charge-off, and judgement rules to make loans harder
In a recent announcement (FHA Mortgagee Letter 2013-25) , HUD said that while they will continue with their basic rule that most unpaid collection accounts DO NOT need to be paid off in order to...
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FHA Mortgage Insurance Lowered!
FHA will cut its mortgage insurance premiums to 0.85 percent, a 0.5 percentage point reduction (down from 1.35%) President Obama was expected to make the announcement on Thursday in a scheduled speech...
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FHA flipping rule – 90-day flip waiver eliminated
Bought a house and want to flip it? The temporary waiver of FHA’s regulation that prohibits the use of new FHA financing to purchase single family properties that are being resold within 90 days of...
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Don’t believe the hype – Millennials can still buy homes
Millennials can, and still want to buy homes. While it is true the American dream of home ownership is harder to achieve than in the past, it isn’t impossible. Young adults, more than ever in the past...
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Low down payment, no down payment loan options for 2017
Minneapolis, MN: Just 10-years ago, 30-year fixed rates were 6.125%, and the real estate market was hot. With rising interest rates, 2017 may be a bit more challenging for home buyers. But the biggest...
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FHA mortgage insurance lowered
FHA lowers monthly mortgage insurance —————– UPDATE to this UPDATE: The reduction in FHA mortgage Insurance has been (at least) temporarily paused before ever actually going into effect. The FHA...
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Is Trump good for home loans?
Is President Trump good for home loans? Minneapolis, MN: Its only been two weeks, but clearly the new Trump Administration is driving a different road from the past administration. Only time will tell...
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Why do I need mortgage insurance??
Why do I need mortgage insurance? When buying a home, and getting a home loan, being approved or not all comes down to risk. If the mortgage company thinks you are a good risk, you get the loan. If...
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