So-So or No Credit? No Cash? An FHA Loan Can Get You a Home If you've never owned a home before, FHA loans offer a great way to break into the housing market. They're federally insured mortgages with easier requirements than conventional home loans. "The secret sauce, the magic ingredient, behind the FHA program is … Continue reading An FHA Loan Can Get You a Home
~ know of or have used any of these? ~ 7 Programs That Help First-Time Home Buyers Programs with low down payments for first-time home buyers include FHA and VA loans and loans backed by Fannie and Freddie. Others can help you remodel or upgrade a home. At NerdWallet, we adhere to strict standards of … Continue reading 7 Programs That Help First-Time Home Buyers
Fannie Mae will ease financial standards for mortgage applicants next month Fannie Mae will ease financial standards for mortgage applicants next month The top reason mortgage applicants nationwide get rejected is because they’re carrying too much debt relative to their monthly incomes. Fannie Mae will be raising its DTI ceiling from the current 45 percent … Continue reading Fannie Mae will ease financial standards for mortgage applicants next month
HUD suspends FHA mortgage insurance rate cut an hour after Trump takes office An hour after Donald Trump assumed the presidency Friday, the Department of Housing and Urban Development indefinitely suspended a pending rate cut for mortgage insurance required for FHA-backed home loans. The move — one of the first acts of his presidency — reverses a … Continue reading HUD suspends FHA mortage insurance rate
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From the MReport 5/12/16 Regulations in the housing market are not only an added responsibility for mortgage companies, but it seems that compliance costs are spilling over into American households. A recent study titled, "Government Regulation in the Price of a New Home" by Paul Emrath, Ph.D., VP of Survey and Housing Policy Research for the National … Continue reading The Regulatory Cost of Homeownership
From The MReport.com 2/9/16 Although rents continue to rise at a rapid pace, many non-homeowners are still shying away from the real estate market due to down payment and credit score troubles. Zillow's Rent Forecast found that rents will flatten in 2016, but will still be unaffordable in most markets. This presents yet another challenge for … Continue reading Prospective Homeowners Held Back by Financial Situation
Is It Harder or Easier to Get a Mortgage Today? 1/28/16 . The federal government has made borrowing money easier for homebuyers with less traditional housing situations and lower incomes while making it more difficult for buyers with burdensome student loan and other debt to get mortgages. The changes are intended to reflect the realities … Continue reading Is It Harder or Easier to Get a Mortgage Today?
First-Time Buyers: How Much Down Payment Do You Really Need These Days? 1/20/16 For someone who is thinking of buying a first home, the idea of saving enough money for a 20 percent down payment can be daunting. The good news is a first-time buyer can purchase a home for a little as 3 percent … Continue reading How Much Down Payment Do You Really Need ?
The Federal Reserve is expected to announce a rate hike soon. USA TODAY financial reporter Paul Davidson tells us what it could mean for the economy. USA TODAY Rising interest rates should only modestly slow rebounding industries, such as housing.(Photo: AP) 827 CONNECTTWEET 85 LINKEDIN 24 COMMENTEMAILMORE The Federal Reserve's expected hike in its benchmark … Continue reading How Fed Rate hike could affect Housing, Autos