FHA Mortgage Rates Low and Jumbo Rates High

Posted on April 7, 2009 by admin 
Filed under FHA Videos, FHA news, Mortgage News · Tagged: , , ,

New homebuyers benefit greatly because these FHA mortgage loans maintain low rates and HUD’s flexible credit guidelines ensure that fico scores are not the driving factor for approval like how conventional underwriting guidelines use for approving refinance or purchase loans.  FHA mortgages are more aggressive with less equity needed for home refinancing and less needed for depositing with traditional home financing.

 

CBS News’s Kelly Wallace reports that FHA rates and conforming interest rates have dropped significantly, but jumbo mortgage rates remain high, because lenders don’t want to offer low rate incentives for these high risk mortgages that many borrowers in high cost areas find themselves stuck in. 

FHA Hope for Homeowners Amendment

This FHA loan enables homeowners can recapture 10% equity in their house immediately and benefit from mortgage relief with lower your mortgage payments with a FHA H4H Act Loan.  The amendment would keep in place current taxpayer protections in the HOPE for Homeowners program that would be stripped if the bill passed without the amendment. 

Rep. Bachmann introduces a taxpayer friendly amendment to H.R. 384, the TARP Reform and Accountability Act.  FHA mortgage lending continues to blaze a trail for home financing with thoughtful foreclosure prevention measures.