Tag Archive : FHA UFMIP

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Essential Rules of FHA Streamlines

       FHA Loans / General

FHA Mortgages offered through HUD are Government insured against default and therefore, because of the government cushion given to Lenders who make FHA loans, very attractive interest rates are available. Furthermore, just like for Veterans (VA Loans), FHA carries a special feature that’s not available for Borrowers who have loans backed by Fannie Mae or Freddie Mac (Conventional). This special…… Read More »

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USDA Zero Down Loans Will Have Mortgage Insurance

       Latest News & Updates / USDA Guidelines & Rules / USDA Zero Down Loans

There are some sweeping changes coming in the Fall of this year (2011) which will make Mortgage lenders more accountable for the loans they fund and approve; some speculate that this is the part of the reason the USDA has chosen to tack on Mortgage Insurance (just like FHA’s) to the monthly payment. Thankfully, we the tax payers won’t be…… Read More »

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FHA vs. USDA

       USDA Zero Down Loans

So I often get asked, “why should I purchase a home using the USDA Zero Down loan when I have money for downpayment and can even put 20% down ?” Truth is, your money is better ‘grown’ in other investments than remaining dormant as equity in your home. You see, historically house prices rise anyway, regardless of whether you create…… Read More »