Apr 8th 2011 1:45PM
The government shutdown that will occur if Republicans in Congress and President Obama can't come to terms on budget legislation by midnight tonight could hit the ailing spring home-buying market like a ton of paving stones. The Federal Housing Agency (FHA), a popular source of low-down-payment mortgages of as little as... Continue Reading »
Feb 23rd 2011 4:11PM
I've always been fond of news stories that are neither new nor particularly unknown, like when some local TV station runs a human-interest story on some local teen who organized a charity drive three months ago. They're cute! And they're no less cute when the Wall Street Journal runs such stories, as it did recently,... Continue Reading »
Oct 4th 2010 3:46PM
FHA annual mortgage insurance premiums will match those of private mortgage insurance companies starting today for all new FHA loans. The annual premium will rise from 0.55 percent to 0.9 percent, which is the same as most private mortgage insurance for loans between 95 percent and 97 percent down. The good news is that... Continue Reading »
Sep 23rd 2010 11:01AM
Jumbo mortgages likely will be taking a bath by the end of the year, when government support for many high-amount loans is scheduled to expire. After two years during which Fannie Mae and Freddie Mac were authorized by Congress to back loans up to $729,750, the limit in some areas will fall back to the normal $417,000... Continue Reading »
Sep 7th 2010 10:21AM
The most flexible first-time homebuyer loan just became a bit more stringent. Starting Oct. 4, homebuyers must have a minimum credit score of 500 to be eligible for a Federal Housing Administration-insured mortgage. Borrowers seeking a single-family home mortgage with credit scores ranging from 500 to 579 will be limited... Continue Reading »
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