Using a FHA Mortgage Calculator with PMI and Taxes
It is soooo important to know that when shopping for a mortgage using a mortgage calculator, that the calculations are accurate. I recently had a borrower coming up with different payment options that never seemed to coincide with the figures that I used, even if we used the same rate. The reason being is that […]
What is the Max FHA Loan Amount?
The Max FHA loan amount differs from county to county. Currently the maximum FHA loan limit in San Diego County for 2013 is $697,500 and in Orange and LA Counties, it’s $729,750. It is still important to note that the conforming loan amount of $417K still comes into play even with the high balance loan […]
San Diego FHA Loan Requirements
San Diego FHA Loan qualifications are the same nationwide, meaning that no matter where you are in the United States, you will need to meet the same FHA loan requirement criteria. In order to qualify for a FHA home loan you must have the following: Credit Income Assets There are ways of getting around some […]
What Is An FHA Approved Lender?
Oftentimes I am asked if all lenders can originate FHA loans. The answer is NO. It’s important to ask your FHA loan originator if they can originate FHA loans; some lenders do not have this ability and you will need to get your paperwork/financing done in various places if this is the case. To make […]
San Diego FHA Loan Tips
Hi there! This is Maureen Martin with another mortgage minute. Just wanted to let you know a couple of tips with regard to FHA financing: 1) FHA loans are not necessarily for first time homeowners or first time homebuyers. Anyone can take advantage of the benefits of FHA financing. There are certain guidelines and requirements […]
FHA Streamline Refinance Charges
Here is an important reminder regarding FHA Streamlines that take effect on June 11,2012, Reducing the MIP (Mortgage Insurance Premium) for those FHA loans being Streamlined with Endorsement dates of May 31, 2009 or earlier. Please refer to HUD Mortgage Letter 12-4 for further information or contact me and I can forward it to you. […]
What is an FHA Loan?
I’m often asked what an FHA loan is. FHA loans were originated in the 1930’s during the Great Depression to insure lenders against default with the sharply rising defaults and foreclosures which is similar to our market today! A few highlights of FHA financing include: As little as 3.5% down lower credit score restrictions higher […]
Apply for FHA Loan
Like most loans, certain information will need to be presented when starting the application process to apply for a FHA loan. You will need to be prepared to provide a lot of information to be included with your loan application. Maureen can help. She’ll provide you with a list of the data required, along with […]
