FHA Mortgage Video
The FHA Mortgage Lending Blog features updated guidelines, financing tips and FHA mortgage videos. Government home financing has taken over the market-share for subprime refinance loans. Watch this Fox News video featuring an interview on America’s Nightly Scoreboard, with Heidi Lawler, Real Estate Expert, and Home finance advisor from San Diego, California.
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With FHA home lending guidelines, the typical ratios are 31/43, but DE underwriters have the authority to approve borrowers with higher debt ratios if they have significant compensating factors. 1st time home buyers benefit greatly because these FHA home loans and the HUD guidelines continue to be flexible with credit and more aggressive with regards to equity for refinancing or down-payment amounts for purchasing than with conforming home mortgages.
Cash out is not allowed with FHA streamline loans, but the process is quick and in most cases, closing costs are lower than conforming and cash out refinancing. FHA mortgage rates remain at the lowest levels since the Great Depression. Borrowers who have been paying their FHA mortgage on time for the last year will be approved for FHA streamlining if they have a job and debt to income ratio below 40%.
CBS News’s Kelly Wallace reports that FHA mortgage 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.
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See Video on FHA Leads
FHA mortgage leads and FHA home leads for purchase or refinance nationwide. Whether you want traditional internet leads or live transfer leads, Lead Planet offers high quality FHA mortgage leads in all 50 states.