The Mortgage Minute - FHA Streamline Refinances

The Mortgage Minute- FHA Streamline Refinances

Posted Leave a commentPosted in Buyer Tips and Advice, FHA Loans, Loan Progams, Mortgage Knowledge

The Mortgage Minute- FHA Streamline Refinances Welcome to this week’s The Mortgage Minute. This week’s topic is FHA Streamline Refinances The Mortgage Minute is weekly informational series presented by Laura Borja, Your San Diego home loan expert. An FHA streamline refinance allows you to refinance your current FHA loan without the need to income qualify, and […]

Changes to FHA Mortgage Insurance Premiums

Posted Leave a commentPosted in FHA Loans, Mortgage Knowledge

Changes to FHA Mortgage Insurance Premiums expected The white house announced today that it has directed the Federal Housing Administration (FHA) to reduce the annual FHA Mortgage Insurance Premiums by 0.5% from 1.35% to 0.85%. The change in policy could mean increased affordability for some homeowners. Let’s look at one possible scenario to compare how a monthly […]

Is Refinancing your home still a possibility?

Posted Leave a commentPosted in Buyer Tips and Advice, Community information, Mortgage Knowledge

Question: Is refinancing your home possible if you have little to no equity in your home, or maybe actually owe more than your home is worth. Answer: Possibly OK, so that is not a very definitive answer as to whether or not refinancing your home is possible if you have no equity in your home. […]

Savings fly away

FHA Streamline Refinances and FHA MI changes for 2013

Posted Leave a commentPosted in FHA Loans, Mortgage Knowledge

The changes coming to FHA annual MIP (monthly mortgage insurance) for 2013 will not affect some FHA Streamline Refinances. HUD announced in Mortgagee Letter 2013-04 that changes will be coming to the amount of monthly mortgage insurance on FHA loans as well as the duration of the mortgage insurance. Fortunately, the changes to the monthly mortgage insurance terms will not […]