Below you'll find a list of all posts that have been tagged as “FHA”
By Ryan Fitzgerald Given the large financial requirement of buying a home, it’s often out of reach for a large portion of the U.S. population. The economic recession, which was triggered by the collapse of real estate and mortgage lending markets, further decreased home buying accessibility. A number of lenders have returned to the 20 percent down requirement when purchasing …
By Derek Sandoval Through FHA’s “Back To Work – Extenuating Circumstances Program,” borrowers who have gone through bankruptcy, foreclosure, deed-in-lieu, or short sale, may be eligible for an FHA-backed mortgage sooner if they can prove their financial hardship was the result of an economic event, such as job loss or a significant decrease in income. In this video, Noel Brownell …
By Jennifer Klein and Derek Sandoval FHA mortgage insurance premiums rose on April 1, 2013. Placer County Association of REALTORS® YPN members Jennifer Klein and Derek Sandoval discuss exactly what has changed as well as what these changes mean for real estate professionals and those applying for a loan. Jennifer Klein is a REALTOR® in Northern California who is experienced …
By Toby Boyce The question on my local NPR station was simple enough: “Why do symphonies sound different when they are made up of the same parts?” The response was very eloquent and educated — I assume. It made as much sense as Pig Latin to me. “Well each one focuses on different things…” I’m sure that musicians in the …
By Dave Robison The Federal Housing Administration’s reserves are high, their defaults are low, and the average borrowers credit scores are 720. So why did FHA recently change premiums, etc.? Because of the annual audit. FHA just had its annual audit that they reported to Congresss. Their worry was how the audit was going to turn out. They changed many …
By Nobu Hata The skinny: The Department of Housing and Urban Development is seeking public commentary through Aug. 14 on three “measures” that “reduce financial risk and preserve affordable mortgage financing for responsible consumers.” The measures: 1. Update the combination of credit and down payment requirements for new borrowers. New borrowers seeking FHA-insured financing will be required to have a …
By Michelle Flaherty Has the incentive for first-time home buyers to break into the market just gone away? My non-scientific market research has shown me that it has not. My buyer clients are still excited about the house hunting process, low interest rates, and attractive offerings at low prices – and I’m hearing the same from my peers. In fact, …
By Nobu Hata With the down market and the inevitable mass exodus of “those” loan officers, you’d think we could rest easy knowing that the loan officers left would be – for lack of a better word – decent. Holy Hannah, would we be wrong. In the last couple weeks, I’ve had various buyers shop their loan around, including those …
By Laura Rubinchuk When I heard about the new FHA DELRAP/HRAP guidelines for condo financing, my gut reaction was, “Well, I might as well go find another job.” Some of the subjective guidelines for the new approval process will greatly affect my market: -Proximity to a noise (i.e. busy streets, highways) -Proximity to a gas station -Percentage of commercial space …
By Heather Soldonia In the current real estate market I have heard both brand new practitioners and veteran brokers express that they are resorting to some basic prospecting strategies and among those is… open houses. When I first began working as a REALTOR® my broker advised me to go to at least 10 open houses “to learn what not to …
