Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance

What is the Difference Between an FHA and Conventional Loan in Cost and Benefits?

January 7, 2020

Q: I have good credit of about 730. I meet the requirements for both FHA and Conventional 97. I plan to live in the home for 6+ years. Which has […]

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FHA Loans · Home Buying · USDA Home Loans · VA Home Loans

100% Financing Home Loans for 2020

December 4, 2019

100% financing home loans are essentially no money down home loans — they’re mortgages that finance the entire purchase price and eliminate the need for a down payment. Large down […]

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FHA Loans · Mortgage Strategy · Refinance

FHA Streamline Refinance: Negotiate Zero Out-of-Pocket Closing Costs

November 21, 2019

Mortgage interest rates are at historic lows across all major loan types. Ellie Mae’s October 2019 Origination Report stated FHA loans are no exception — average mortgage interest rates decreased […]

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FHA Loans · Refinance

FHA Streamline Refinance Rates & Guidelines for 2020

November 15, 2019

The FHA streamline refinance program helps current FHA homeowners lower their interest rate and monthly payment — it’s a quick and cost-effective way to refinance with lenient documentation requirements and […]

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FHA Loans · Refinance

FHA Mortgage Insurance Refund Guidelines [Chart]

October 17, 2019

When you get an FHA loan, you pay a mortgage insurance premium at the time of closing. This initial premium is the called the upfront mortgage insurance premium (also known […]

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Credit · FHA Loans

Low Credit Score Home Buyers Could Qualify with this FHA Policy

May 15, 2019

Editor’s note: The 2017 changes are still in effect in 2019. According to Ellie Mae, more lower-credit FHA applicants are being approved. In July 2016, only 19% of closed FHA loans […]

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FHA Loans · Refinance

FHA Cash-Out Refinance: Access Your Home Equity

March 5, 2019

Editor’s note: Starting September 1, 2019, HUD, the administrator of FHA loans, reduced the maximum FHA cash-out refinance loan-to-value to 80%, down from 85%.  What is an FHA cash-out refinance? […]

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Ask Tim · FHA Loans · News · Refinance

Can I Use an FHA Refinance to Remove a Borrower?

May 16, 2018

The FHA streamline refinance allows borrowers to reduce their rate with no pay stubs, no W2s, and no appraisal. But is an FHA streamline possible while simultaneously removing a borrower from […]

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FHA Loans · Home Buying

The FHA 203k Rehab Loan: Financing the Fixer-Upper

October 5, 2017

Have you found a home that you love, but it’s in bad shape? The 203k loan may be a perfect way to purchase a home that is a little rough […]

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FHA Loans · News

Trump Administration Suspends FHA Fee Cut

February 1, 2017

An hour after Donald Trump’s inauguration on January 20, his administration suspended the previous administration’s cut to FHA annual mortgage insurance premiums (AMIP). Announced on January 9, the rates would […]

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