Tag Archive for: fha loans

Buyers Don’t Need a ‘Perfect’ Credit Score to Get a Loan in California

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Buyers in don't need a perfect credit score to get a loan in California. Having a high credit score can help buyers secure a loan with a lower interest rate. However, today’s loans have more forgiving guidelines when it comes to a buyer’s credit, which is especially true with government-funded loans.Read More

VA vs. FHA; Differences & Similarities

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Realtors often confuse VA and FHA guidelines b/c the loans are somewhat similar in that they are both backed or insured by the Federal Gov”t. There are, however, many differences […]Read More

First Time Homebuyer Program Limitations; First Time Homebuyer Programs = FHA

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Our first time homebuyers almost always ask about special financing programs for first time homebuyers. With the exception of a few down payment assistance programs and city-specific programs, there are […]Read More

What If Spouse Has Horrible Credit? Too Much Debt?

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We frequently get husband/wife borrowers where one spouse has stellar credit and the other has awful credit. Most people know that the solution is simply to do the loan in […]Read More

FHA MI Down; Thumbtack; Contacting JVM; Calling Listing Agents; Weekends

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A few facts, tips and reminders: 1. FHA MI dropped from 0.85% to 0.60% for most loans, making FHA that much more attractive with its low rates and flexibility. 2. […]Read More

Click-Throughs; Why Borrowers Qualify For Larger FHA Loans? 56.99%

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In our recent monthly newsletter, we measured “click-throughs” for our various articles. Interestingly, the mortgage-related article about debt ratios got the most views. Two things: (1) Be sure to measure […]Read More

FHA Mortgage Insurance LOWER Than PMI In Many Cases; FHA = Good

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FHA = Good. That is one of the primary points we make during our “Mortgage 101” Seminars. This is b/c too many Realtors labor under the myth that FHA financing […]Read More

FHA Offers – Higher Esteem; Speed, Flexibility and “As Is”

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One of the biggest takeaways from our "Mortgage 101" Seminars is to hold FHA offers in higher esteem. Here are a few reasons why:Read More

FHA Is Faster Than Conventional; Myth That FHA Is Slower

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We beat this dead horse often, but it keeps rearing its head. So we are re-beating it: FHA loans do not take longer to close than conventional loans (at least […]Read More

The Case For FHA: Lower MI; Good for Low Credit Scores; Fast Closing

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We are making the case for FHA once again now that MI is so much lower (down to 0.85% from 1.35%). FHA interest rates are much lower than conventional rates, […]Read More

FHA Loans Do Not Take Longer Than Conventional

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We are frequently asked by Realtors if we can close FHA loans as fast as conventional loans, and our answer is always the same: “of course.” FHA loans do not […]Read More

FHA Properties Do Not Have To Be In Better Condition; Misconception

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We continue to hear Realtors express concern about whether or not properties are in good enough condition for FHA financing (as opposed to conventional financing). This is a misconception left […]Read More

FHA Appraisals – Only One Is Allowed;Value Can’t Change w/ New Lender

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We had a borrower leave us for an online lender about a month ago. The online lender screwed up the loan, and the appraisal came in low (despite ample comps […]Read More

Non-Citizens Can Get FHA/Conv. Financing; VISAs are OK

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Borrowers living in the U.S. do not need to be U.S. Citizens to get FHA and Conventional Financing. Visas of a variety of types are acceptable. The most common acceptable […]Read More