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

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

July 6, 2016

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 · Mortgage Rates · Refinance

FHA Loans Getting Approved At High Clip

June 22, 2016

FHA loans closed at the highest clip in the past 18 months. Over 70 percent of FHA loans closed in the month of May, a jump from about 67 percent […]

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FHA Loans · Mortgage Rates · News

FHA Rates Hit Year-Low Levels

May 23, 2016

Homes Closed With Lowest Average Mortgage Rates in 12 Months April saw the lowest average mortgage rates in one year. Mortgage software leader Ellie Mae reported that the average 30-year […]

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FHA Loans

New Legislation Could Help FHA Condo Buyers

April 12, 2016

FHA Condo Buyers Could Soon Have More Options For the last few years, there haven’t been a lot of options for prospective condo buyers who were relying on FHA financing to fund their […]

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Conventional Loans · FHA Loans · USDA Home Loans · VA Home Loans

Mortgages That Don’t Require A 20% Downpayment

March 22, 2016

Low Downpayment 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 of […]

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FHA Loans

Companies that Know How to get Condos Approved with FHA

January 14, 2016

It sounds simple. If a condo meets FHA approval, the people who want to buy a unit in the condominium are eligible to apply for an FHA mortgage. If it […]

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FHA Loans

FHA Buyers Rejoice: More FHA Approved Condos Coming

December 8, 2015

It can be tough to find a condo building that is approved for FHA financing. But that’s just what many first time homebuyers are trying to do. Condominiums are a less […]

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FHA Loans

FHA Could Reduce Mortgage Insurance Premiums in 2016

December 1, 2015

The agency that backs more than one million mortgage loans per year just reached an important milestone, and it could make home buying easier in 2016. The Federal Housing Administration, […]

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FHA Loans · Home Buying

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

November 5, 2015

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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Ask Tim · FHA Loans

What if the Home does not Meet FHA Minimum Property Standards (MPS) and Selling As-Is?

November 3, 2015

Recently I was asked 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 […]

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  Mortgage expert Tim Lucas has been helping home owners for over 12 years.

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