Loan Programs

How Long Do USDA Rural Home Loans Take To Close?

It’s a common myth surrounding the USDA loan that it takes ‘forever’ to get to the closing. It really doesn’t take too much longer than any other loan on the market. While there is one extra step USDA lenders have to...

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Senior Homeowners Gain $121 Billion in Home Equity in Q3 2017

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As 2017 is drawing to a close, homeowners aged 62 and above may be able to draw more from their home equity. They were $121 billion in home equity richer during the third quarter of 2017 per Reverse Mortgage Market Index (RMMI) by the National Reverse Mortgage Lenders Association and  Read more

2018 HECM Loan Limits: FHA-Backed Reverse Mortgage Amounts Increase

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Senior borrowers see higher 2018 HECM loan limits as announced by the FHA this December.Homeowners aged 62 and above can borrow up to $679,650 next year as the Federal Housing Administration (FHA), which insures reverse mortgages called Home Equity Conversion Mortgages (HECMs), increased their  Read more

FHA Submits 2017 Annual Report, Updates on MMI Fund and More

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“Our duty is clear - we must make certain FHA remains financially viable so future generations can build wealth and climb the economic ladder of success,” Dr. Ben Carson, secretary of the HUD, said in a public statement accompanying the FHA’s annual report to Congress for 2017.The Federal  Read more

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