August 11, 2022
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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August 11, 2022
Some buyers find that they have built equity in the home a few years after buying it using an FHA mortgage. So they take out a home equity loan or […]
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August 11, 2022
What happens when a property is being sold as-is and the seller will not do repairs but the home doesn’t meet FHA minimum property standards (MPS)? How does the buyer […]
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FHA Loans · Home Buying · Understanding Mortgages
August 11, 2022
There are quite a few loan options available to buy fixer-upper homes. “By buying a fixer-upper, you can definitely increase the value of the home as it appreciates and as […]
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Ask Tim · Conventional Loans · FHA Loans · Private Mortgage Insurance
August 11, 2022
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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July 27, 2022
Home buyers pay an upfront mortgage insurance premium when they close on an FHA loan. This upfront fee — known as UFMIP or MIP — equals 1.75 percent of the […]
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Conventional Loans · FHA Loans · USDA Home Loans · VA Home Loans
July 25, 2022
Low down payment mortgage options Many home buyers believe they need a 20% downpayment to buy a home. This misconception could stop buyers before they start, and cost them years […]
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Ask Tim · FHA Loans · News · Refinance
July 25, 2022
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 […]
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July 25, 2022
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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May 25, 2022
Low credit score borrowers may be eligible for FHA loans, thanks to a new 2017 FHA policy update. Since 2017, lenders have loosened credit score requirements and lower-credit score applicants […]
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