According to the Mortgagee Letter Published this week, HUD is changing the Maximum Loan Limit for Wake, Johnston, Franklin and Harnett Counties. The change is based upon our average sales price, …
FHA Downpayment Alternatives
Unless the next Congress makes a major change, Downpayment Assistance Programs are a thing of the past. We have been looking for Alternatives, and found this program that started in May of 2006 by …
FHA PMI update October 2008
For the most CURRENT FHA PMI Rates click here THIS IS INFORMATION ABOUT FHA PMI THAT WAS CHARGED IN 10/2008. We have it here in the event someone needs to understand how the Mortgage Insurance …
Rental Income and FHA
FHA announced new guidelines for those who are going to rent their residence - and then apply for a FHA loan. The "old" rule has always been that if you were relocating, you could "hold" more than 1 …
Calculating Downpayment on FHA
For many years we calculated FHA down payment by way of Acquisition Cost. Now... that's "out the window." With the new "revisions" we calculated a "straight" 3.5% as reflected in the Mortgagee …
FHA Refinance
Okay - so here's something that will stump the loan officer. You bought a property in Feb. of 2008. You got a Heck of a Deal - and you purchased the home for $237,000. The appraisal in February …
