If you take out an FHA loan, you’ll pay mortgage insurance for the life of the loan. The mortgage insurance protects your lender should you default on the loan. It’s in exchange for the low down payment requirements and flexible underwriting requirements the FHA offers.Get Matched with a Lender, Read more
FHA Streamline vs Regular FHA Refinance
If you have an FHA loan right now, you have two options when you wish to refinance. The FHA streamline and a regular FHA refinance. Both options offer the ability to refinance your loan, but they offer vastly different benefits. What is an FHA Streamline? The FHA streamline is only offered to Read more
POTUS Suspends FHA Insurance Cut, Now What?
The new President’s first order of the day was to repeal new regulations made during the Obama administration pending review. This rolls back the reduction of FHA’s annual mortgage insurance premiums and its annual potential savings of $500 to households. With the FHA insurance cut suspended Read more
Income Documentation Requirements for an FHA Loan
There are many speculations regarding what an FHA loan requires in terms of income. Some people believe that this loan program is strictly for the “lower income” borrowers and that those that make too much will not qualify. This is simply not true – there is no maximum amount of money you can make Read more