Archive for January, 2015

Mortgage Rates have dropped Again

January 14th, 2015 by

The World Bank cut its global growth forecast, oil and other commodities are under more pressure, earnings season is off to a mixed start and this morning, U.S. retail sales were a huge disappointment.

The yield on the 10-year note was at 1.85... [ Read More ]

Things to Know before Your Loan is Reviewed by an Underwriter

January 14th, 2015 by

After you have completed your loa... [ Read More ]

FHA Loans and Verifiable Income: Alimony, Child Support, and Maintenance Payments

January 14th, 2015 by

Borrowers applying for an FHA home loan have good reason to consider listing alimony, child support, and maintenance payment income on their loan applications.

Not all wish to have this type of income included in their application data, but when accompanied by proper documentation and when verified by the lender, these types of “non-employment income” can be... [ Read More ]

FHA Mortgage insurance to be reduced

January 7th, 2015 by

Great news for the housing industry is coming to the mortgage industry. Many industry professionals and those in leadership positions have been avocation for a reduction of the mortgage insurance premium for FHA loans.

The high monthly premiums has deterred many guest time home buyers from getting financing due to higher premiums on the monthly payments... [ Read More ]