One month left before FHA mortgage insurance is permanent…SO WHAT??
Borrowers not wanting to have FHA mortgage insurance as part of their mortgage payment for the life of the loan have about thirty days...
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Buying a Duplex to live in with an FHA mortgage
One of my favorite blogs to follow, Get Rich Slowly, recently published Reader Stories: I bought a duplex to save money on rent. The...
read moreWhy you should compare FHA to a Home Advantage Mortgage
If your credit scores are 660 or higher and you’re considering buying a home located anywhere in Washington state using FHA for...
read moreHome Advantage Mortgage with Down Payment Assistance
Home Advantage is a program that is offered through the Washington State Housing Finance Commission. Home Advantage is typically...
read moreMore options for Washington home buyers
Yesterday I was “in class” at the Washington State Housing Finance Commission learning about programs they have to offer...
read moreGet Ready for Round 2 of Changes to FHA Mortgages
Effective this week, FHA annual mortgage insurance premiums were once again increased on loans with case numbers issued April 1, 2013...
read moreNo Fooling! Time’s Running Out on Reduced FHA Mortgage Insurance Premiums
There are just a few days left before FHA mortgages will have another increase to annual mortgage insurance premiums. Effective with...
read moreFHA Streamlined Refi for your Investment Property
Did you know that if your existing mortgage is FHA on your investment property, that it may qualify for an FHA streamlined...
read moreFive weeks remaining before FHA mortgage insurance premiums increase
HUD has scheduled another increase to FHA annual mortgage insurance premiums effective with new case numbers obtained April 1, 2013...
read moreIt’s official: HUD issues Mortgagee Letter Confirming Changes to FHA Mortgage Insurance
I’ve been writing about pending changes to FHA insured mortgage loans regarding the mortgage insurance premiums. Yesterday, HUD...
read moreBuying a 2-4 Unit Home using an FHA Mortgage
If you are considering buying a duplex, triplex or fourplex and you’re going to live in one of the units, FHA is a possible...
read moreHeads up! HUD issues Press Release with upcoming changes to FHA Mortgages
Today HUD issued a press release confirming pending changes to help bolster FHA’s capital reserves. “These are essential and...
read moreHow much home do I qualify for with a $70,000 down payment?
I’m working with a couple in Seattle who would like to buy a home. They have excellent credit (scores of 740 or higher) and are...
read more2013 FHA Loan Limits for Washington State
HUD has confirmed that 2013 FHA loan limits will remain unchanged from 2012. King County, Snohomish County and Pierce...
read moreHUD extends FHA’s Flipping Waiver through 2014
HUD recently announced they will extend the “anit-flip waiver” through December 2014. Without this waiver, home buyers...
read moreFHA Mortgage Insurance Increasing in 2013
Last week I shared with you part of HUD’s plan to no longer allow FHA mortgage insurance premiums to terminate to help improve...
read moreFHA Mortgage Insurance to remain on loans FOREVER
HUD has announced in their Annual Report to Congress Regarding Financial Status of the FHA Mutual Mortgage Insurance Fund Fiscal Year...
read moreHUD’s Net Tangible Benefit Requirement is Hampering FHA Streamline Refinances
HUD has a requirement that in order for a borrower to do a streamline refinance their existing FHA mortgage, their scenario must...
read moreFHA Streamlined Refinance: Credit vs Non-Credit Qualifying
With an FHA streamlined refi, most folks have the misconception due to the program name “streamlined” that the refinances...
read moreShould I do an FHA streamline refi if my rate is 4.875%?
This is a scenario I’m reviewing for one of my clients who lives in Seattle. His existing mortgage is a 30 year fixed FHA...
read moreHas your Bank turned down your refi?
In a time when one might assume that their bank would work with them to refinance their home, many Washington homeowners are finding...
read moreHUD rescinds recent guidelines on collections and disputed accounts
Earlier this year, HUD released Mortgagee Letter 2012-3 which featured tougher underwriting guidelines. This week they released ML...
read moreBanks playing hardball with FHA Streamline Refi’s: ACT NOW!!
No sooner had the reduced MI gone into effect with FHA streamline refinances, some banks announced that they would only provide FHA...
read moreFHA Streamlined Refi Revamped and Revisited
There is a lot of interest in the FHA streamlined refinance since HUD has greatly reduced the mortgage insurance premiums for some...
read moreJust one more week for higher and lower FHA mortgage insurance premiums
A week from today, on June 11, 2012, HUD has more changes scheduled for FHA mortgage insurance premiums. I've been sharing this...
read moreDon’t Delay: FHA Mortgage Insurance set to increase (again) for FHA Jumbos on June 11, 2012
Last month, HUD increased FHA mortgage insurance rates on both upfront and annual (paid monthly) premiums. Borrowers who are...
read moreFHA Underwriting Guidelines Tightening
UPDATE 6/19/2012: HUD has rescinded some of the guidelines issued in this Mortgagee Letter. Specifically those addressing collections...
read moreYou Don’t Have to Wait Until June to Start Your FHA Streamlined Refi
If you currently have an FHA insured mortgage that was *guaranteed* prior to June 1, 2009, you may qualify for significantly reduced...
read moreLess than two weeks remaining before FHA mortgage insurance premiums jump higher
If you are considering an FHA mortgage, you have less than two weeks to obtain an FHA case number at our current FHA mortgage...
read moreConsidering refinancing your FHA mortgage? Here’s what you need to know NOW
HUD announced dramatic changes to their mortgage insurance premiums this week. If you have been considering refinancing...
read morePreapproved with FHA Financing? You Better Double Check with your Lender.
If you are currently preapproved to buy a home using FHA for your financing, I highly recommend you check with your mortgage...
read moreHUD issues Mortgagee Letter Conforming Changes to Mortgage Insurance Premiums
Hot off the press! HUD just released Mortgagee Letter 12-4 addressing all of the changes to FHA mortgage insurance premiums....
read moreFHA to Reduce Mortgage Insurance Rates for some FHA Streamlined Refi’s
Today HUD announced that beginning June 11, 2012, FHA will REDUCE the cost for an FHA streamlined refinance for FHA insured mortgages...
read moreFHA Mortgage Insurance set to increase April 2012
Yesterday, HUD announced they are going to increase the annual (paid monthly) and upfront mortgage insurance premium on FHA insured...
read morePresident Obama’s Refi Plan for Non-HARP Qualified Homeowners #MyRefi
On last week’s State of the Union Address, President Obama announced a plan to help underwater homeowners who do not qualify...
read moreLOCK IN SOON!! Mortgages will Cost More thanks to Temporary Payroll Tax Cut
UPDATE: Since publishing this post this morning, another major bank announced a significant increase in their extension fees as noted...
read moreHUD extends Waiver for “Anti-Flipping” Rule through 2012
UPDATE: HUD HAS ANNOUNCED THIS WAIVER WILL BE EXTENDED THROUGH DECEMBER 2014. HUD recently announced they will extend their...
read moreFHA Loan Limits for homes located in Washington State for November 18, 2011 and 2012
A few days ago, HUD confirmed the 2012 FHA Mortgage limits which have been restored to the higher “temporary” higher loan...
read moreHUD confirms Higher FHA Loan Limits with an official Mortgagee Letter
I just received notice from HUD announcing higher FHA loan limits are to be retroactive for case numbers issued November 18, 2011 and...
read moreMore Changes Coming for FHA Loans
Today, HUD Secretary Shaun Donovan testied before the House Committee on Financial Services addressing the financial health of the FHA...
read moreJust in from HUD on FHA Loan Limits
I've been following this because some folks I respect in the mortgage industry have been touting that the former higher...
read moreFHA Loan Limits will be higher than Conforming in Seattle for 2012
Well it looks like our Congress has passed loan limits for 2012 restoring FHA's higher "temporary" loan limits (pre...
read moreIt’s time for HUD to revamp the FHA Streamlined Refi
HUD's Shaun Donovan was recently promoting Obama's jobs bill and the recently revised the Home Affordable Refinance (aka HARP...
read moreConforming and FHA Higher Loan Limits MAY be Returning
The Senate has passed an amendment that will bring the temporary loan limits back through December 31, 2013! In the...
read moreRefinancing Your Seattle Area “High Balance” Mortgage Over $506,000
If you obtained a high balance mortgage over the current limit ($506,000 in King, Pierce and Snohomish Counties) and missed the...
read moreFHA Loan Limits for Washington homes from October 1, 2011 to December 31, 2011
UPDATE: This post is outdated – please check current loan limits listed on the links on the left. It appears that Congress will...
read moreThe Low Down: Comparing FHA to Fannie Mae Homepath Mortgages
If you're thinking about buying a home with minimum down payment requirements in the greater Seattle area, you may be considering...
read moreOctober Brings Few Treats for Mortgages
Effective October 1, 2011, several changes are set to take place that will impact new mortgages, including Conforming, FHA...
read moreHUD Issues Mortgagee Letter Addressing Lower Loan Limits for FHA Loans
Last Friday, HUD released Mortgagee Letter 11-29 announcing the maximum loan limits for FHA loans effective October 1, 2011 through...
read moreRefi Window of Opportunity Closing Soon for Larger Loan Amounts
I'm working with a couple in Seattle who are looking at refinancing their current adjustable rate mortgage to a 30 year fixed....
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