Mortgage
FHA Revised Condo Guidelines – October 2019
![FHA Revised Condo Guidelines – October 2019 FHA Revised Condo Guidelines – October 2019](http://seattlecondosandlofts.com/wp-content/uploads/2019/08/FHA-October-2019-300x200.png)
FHA looks to make a comeback in the condo loan market by easing some of its guidelines.
FHA Reduces Mortgage Insurance Premium – January 2017
![FHA Reduces Mortgage Insurance Premium – January 2017 FHA Reduces Mortgage Insurance Premium – January 2017](http://seattlecondosandlofts.com/wp-content/uploads/2017/01/FHA-logo-630px-300x200.jpg)
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
![Mortgage Rates Continue to Fluctuate Mortgage Rates Continue to Fluctuate](http://seattlecondosandlofts.com/wp-content/uploads/2015/01/Mortgage-rates-300x200.jpg)
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 Annual Mortgage Insurance Premiums FHA to Reduce Annual Mortgage Insurance Premiums](http://seattlecondosandlofts.com/wp-content/uploads/2011/07/mortgage-300x200.jpg)
FHA to reduce the annual mortgage insurance premium as of January 26, 2015.
3% Down Payment Conventional Condo Loans are Back
![3% Down Payment Conventional Condo Loans are Back 3% Down Payment Conventional Condo Loans are Back](http://seattlecondosandlofts.com/wp-content/uploads/2012/04/cobalt_logo.png)
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
![FHA Increases Insurance Premiums Again Effective April 9, 2012 FHA Increases Insurance Premiums Again Effective April 9, 2012](http://seattlecondosandlofts.com/wp-content/uploads/2012/02/fha_approved_condos-300x60.jpg)
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
![Condos Becoming Elusive for FHA Buyers Condos Becoming Elusive for FHA Buyers](http://seattlecondosandlofts.com/wp-content/uploads/2008/10/fha.jpg)
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
![Congress Reinstate Higher FHA Loan Limits Congress Reinstate Higher FHA Loan Limits](http://seattlecondosandlofts.com/wp-content/uploads/2008/10/fha.jpg)
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
![Deadline Ticking for EHLP’s Forgivable Bridge Loan Deadline Ticking for EHLP’s Forgivable Bridge Loan](http://seattlecondosandlofts.com/wp-content/uploads/2011/07/Hud-feat-300x200.gif)
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
![FHA and Conforming Loan Limits Expected to Reduce FHA and Conforming Loan Limits Expected to Reduce](http://seattlecondosandlofts.com/wp-content/uploads/2011/07/mortgage-300x200.jpg)
The FHA and conforming loan limits are expected to reduce by $61,500 effective October 1, 2011.