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FHA Financing

A Home Loan with NO APPRIASAL? Too Good to Be True?

July 17, 2010

So, you’re browsing through the online listings of homes for sale in Orange County, and you come across a great little house that says, “No Appraisal Financing!”.  Woohoo!  That sounds easy…
HomePath
You may have heard of a new Federal home loan program called HomePath.  HomePath loans feature several tempting benefits, such as low down payments, flexible [...]

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FHA Loan Alternative – 5% Down Conforming on Orange County Homes

March 16, 2010

Robert Collins of Wells Fargo reminded me today that FHA Mortgage Insurance rates are going up.  The current up-front premium is 1.5% of the loan amount, but on April 5, 2010 it goes up to 2.25%!
On a $500,000 purchase, that’s an increase in premium from $7,238 to $10,856, not chump change.  One new alternative Robert [...]

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