Currently viewing the tag: "FHA Mortgage Refinance"

Changes to FHA Home Loan Approval Rules

On January 21, 2010 By

Securing an FHA mortgage is about to get more expensive.

The FHA announced Wednesday that it is making a few policy changes to reduce their overall risk.

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FHA Loan Rates Improving Today

On December 7, 2009 By

Last week saw rates take a bruising after chasing all-time lows right near Thanksgiving.  The FHA interest rate was pushed higher, but still opens this week under 5%.

It is hard to keep in context how low mortgage rates are.  We went up .25% and are still below 5%.  That’s great news today.  It’s scary [...]

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30 Year v. 20 Year – Term Reduction

On November 19, 2009 By

Today, we’re looking at the value of term reduction on a mortgage loan.  Term (length of the loan) reductions can be a great vehicle to accomplish two goals:

Pay off the loan more quickly Reduce the total cost of interest over the life of the loan

In general, the mortgage interest rate goes lower as [...]

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FHA Interest Rates Continue Trend

On November 16, 2009 By

Last week brought a third-consecutive week of FHA loan rate improvement.  On the heels of a dismal University of Michigan Consumer Sentiment report on Friday, rates followed through and finished off the week strong.

We go into this week with a few key readings, namely, the CPI and PPI.

Current Status: Inflation Low. Rates Low.

[...]

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FHA Loan Rates Below 5%

On November 13, 2009 By

The FHA interest rate continues to trend lower.   Mortgage rates plunged through the 5% mark and are sitting at their best levels, in the FHA products, in quite some time.

The much-loved FHA Streamline Refinance program has big changes coming next week.  Beginning November 17, FHA Streamline Refinance applicants will need to evidence:

Income Verification [...]

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