Tag: FHA 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.
FHA to Reduce Annual Mortgage Insurance Premiums
FHA to reduce the annual mortgage insurance premium as of January 26, 2015.
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…
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.
Historic Mortgage Interest Rates
Mortgage interest rates are at a year-to-date low, the lowest in 20 years. Plus, Wells Fargo offers a 3% down no mortgage insurance program.
FHA Mortgage Insurance Premium Increases
FHA’s monthly mortgage insurance premium rate will increase as of April 18, 2011 by 0.25%, which could increase monthly mortgage payments by as much as $100.
HOA Foreclosure and the FHA Squeeze
Linkage: Condo HOA’s foreclosure option for delinquent owners; FHA changes create resale challenges for condo sellers.
