Mortgage
FHA Revised Condo Guidelines – October 2019
FHA looks to make a comeback in the condo loan market by easing some of its guidelines.
FHA Reduces Mortgage Insurance Premium – January 2017
Effective January 27, 2017 FHA is reducing its mortgage insurance premium rate saving buyers hundreds of dollars annually. Though, it’ll provide a negligible benefit for Seattle condo buyers.
Mortgage Rates Continue to Fluctuate
The U.S. 30-year fixed rate mortgage interest rate continues to trend downward, making it more attractive to buyers and increasing their purchasing power.
FHA to Reduce Annual Mortgage Insurance Premiums
FHA to reduce the annual mortgage insurance premium as of January 26, 2015.
3% Down Payment Conventional Condo Loans are Back
Cobalt Mortgage, a local mortgage provider, is now offering a low 3% down payment conventional loan option for condo purchases.
FHA Increases Insurance Premiums Again Effective April 9, 2012
Effective April 9, 2012 FHA will increase the upfront mortgage insurance premiums on FHA loans from 1.00% to 1.75%, raising the cost to borrowers.
Condos Becoming Elusive for FHA Buyers
The effect of FHA’s 2010 condo approval and recertification changes are leaving condo buyers with fewer options as associations overlook or neglect FHA certification.
Congress Reinstate Higher FHA Loan Limits
On October 1, 2011 the increased loan limit for FHA Loans expired reducing the limit in the Seattle area from $567,500 to $506,000 for FHA back loans, potentially affecting upper-end purchases. Last week, FHA got a reprieve from Congress, which reinstated the higher loan limits in 42 states through 2013. For the Seattle/King County area…
Deadline Ticking for EHLP’s Forgivable Bridge Loan
The deadline for HUD’s Emergency Home Loan Program for at-risk homeowners facing foreclosure is coming up this Friday.
FHA and Conforming Loan Limits Expected to Reduce
The FHA and conforming loan limits are expected to reduce by $61,500 effective October 1, 2011.
