A conventional home loan is one that is not insured or guaranteed by the federal government. This distinguishes it from the three government-backed mortgage types FHA, VA, and USDA. Understanding the difference between FHA and conventional loans can help you avoid unnecessary time and expense when you try to qualify for a mortgage. FHA, or … Continued
The FHA loan program offers two key benefits to homebuyers (1) smaller down payments and (2) more flexible qualifying guidelines, when compared to a regular “conventional” loan. If you use a FHA loan to purchase a home, your down-payment could be as low as 3.5% of the purchase price. With a conventional loan mortgage you … Continued
An FHA home loan is a mortgage that is insured by the federal government, through the Federal Housing Administration. This insurance protects the mortgage lender who makes the loan against losses resulting from a borrower default, or failure to repay. The program is managed and overseen by the Department of Housing and Urban Development (HUD) … Continued
As the nation’s housing market continues to improve, U.S. Housing and Urban Development announced on January 9, 2015 the Federal Housing Administration (FHA) will reduce the annual premiums new borrowers will pay by half of a percent. The reduced annual mortgage insurance premium (MIP) rates will apply to FHA-insured purchase and refinance loans with loan … Continued
Identity theft is one of the fastest growing crimes in America. A dishonest person who has your Social Security number can use it to get other personal information about you. Identity thieves can use your number and your good credit to apply for more credit in your name. You may not find out that someone … Continued
FHA mortgages are insured by the Federal Housing Administration and offer borrowers several benefits seeking more flexible qualification requirements and lower down payments and closing costs. For complete program details and to find out if you qualify, contact us today at 888-488-3807 or go to www.OneTrustHomeLoans.com.
Latest Headline: Simpler Mortgage Credit Rising interest rates typically result in credit loosening while job and income growth could pave the way for lenders to relax credit guidelines late in the year making it easier to obtain a mortgage in 2014. For loan program details and to find out if you qualify, contact us today … Continued
To be comfortable in retirement, you may need more than you think. Are you a homeowner, over the age of 62 and have equity in your home? You may be eligible for a government insured Reverse Mortgage that will free you from financial worry to: Payoff an existing mortgage and/or eliminate debt. Increase your monthly … Continued