FHA Lending Sign Of Weak Housing Market?

FHA has money to lend, and boy is it flying out the doors! David Stevens, the agency’s head is quoted in Bloomburg as saying, “FHA lending last quarter may have topped the combined volume of government-supported Fannie Mae and Freddie Mac in a home-lending market that’s still a government-financed market.” Is that GOOD news?  Well, [...]

USDA Home Loans Could Be Getting More Expensive

4/20/10 – As we’ve mentioned (a couple of times) USDA Single Family Rural Development Home Loan Program is running out of money… WHEN that magic date is – we don’t know… But we know it’s coming in the next few weeks. The Hombuilder’s Association of America is in Washington this week to discuss (read they [...]

USDA Home Loans have PMI?

USDA Home Loans also have a form of default insurance (PMI), and it’s a Guarantee Fee. The actual dollar amount is a rather complicated formula, and it ends up being about 2.05% – but most people use 2.% as a rule of thumb for prequalifying purposes.

PMI For VA Loans??

Veteran’s have a great benefit with VA Financing.  It’s a 100% loan, and in most cases, the seller can pay for closing costs.  It’s a conservatively underwritten loan, so there is little chance that 5 or 6 years from now a Vet is going to be in trouble with a mortgage that they can’t afford! [...]