UWM now offering ultra-low mortgage rates on FHA loans

Housing Wire

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. on FHA loans, the company announced in a statement on Wednesday.

HUD extends COVID-19 forbearance for FHA loans

Housing Wire

Department of Housing and Urban Development on Tuesday extended COVID-19 foreclosure and forbearance moratoriums for FHA and USDA loans to June 30, 2021. This announcement follows FHFA action last week to extend moratoriums for loans backed by Fannie Mae and Freddie Mac. The U.S.

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Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low

Eyes on Housing

Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% Conventional loans financed 74.8% NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S.

How much money do I need for an FHA loan? (Calculator)

The Mortgage Report

How much money do you need to get an FHA loan? FHA Home Buying First-Time Home Buyers FHA loan FHA loan closing costs FHA loan down paymentThat will depend on several factors. But this article will give you a rough idea.

Should You Get an FHA Loan?

Realty Biz

Among the many mortgage options buyers have, the FHA loan is one of the most popular. Read on for a complete rundown of what an FHA loan is, how you qualify for one, and how an FHA loan compares to a conventional home loan. What Is an FHA loan?

FHA Loan Requirements: What Home Buyers Need to Qualify

Realtor.com

designer491/iStock FHA loans, which are insured by the Federal Housing Administration, help home buyers secure financing to buy a home despite their low income, lack of savings, or poor credit scores—the kind of things that often prevent people from getting a conventional loan.

Conventional loan vs. FHA loan: 2022 Rates and guidelines

The Mortgage Report

Compare FHA loans with 3.5% down vs. conventional loans with 3% down. Mortgage Strategy FHA Housing Mortgage mortgage rates Real EstateRates, requirements, credit score, eligibility, and benefits.

How to Get Approved for an FHA Loan

RISMedia

The FHA is now a go-to-place for moderate-to-low income workers with good credit histories. The post How to Get Approved for an FHA Loan appeared first on RISMedia's Housecall. Featured Industry Insights FHA loans home loans mortgage

FHA loan requirements: Six facts you might not know

The Mortgage Report

FHA loan requirements are more lenient than most other loan programs. FHA Home Buying FHA Housing Mortgage mortgage rates Real EstateThat means you can buy or refinance a house more easily. Here's how.

FHA loan limits increase for single-family and multifamily loans

The Mortgage Report

Current FHA loan limits for every U.S. Check your local FHA loan limit for 1-unit, 2-unit, 3-unit, and 4-unit homes. FHA Home Buying Mortgage News FHA Housing Loan Limits Mortgage mortgage ratescounty.

How to get an FHA loan: FHA requirements and tips (Podcast)

The Mortgage Report

Learn about FHA loan requirements, and get tips from a mortgage expert on how to qualify for the FHA program. FHA Home Buying

FHA Loans and Down Payment Assistance: Making Homebuying Affordable

HomeLight

The Federal Housing Administration (also known as the FHA) is an agency of the U.S. The FHA doesn’t lend money itself. The FHA backing lets lenders offer easier credit terms than non-FHA loans. FHA loans are especially important for first-time buyers.

FHA for first-time home buyers: Why use an FHA loan?

The Mortgage Report

Explore benefits of the FHA loan for first-time home buyers, including low down payments and flexible loan requirements. FHA Home Buying First-Time Home Buyers FHA Housing Mortgage mortgage rates Real Estate

How to apply for an FHA loan: Process and requirements to qualify

The Mortgage Report

Learn how to apply for an FHA loan and get approved. This guide covers the FHA loan application process, required documents, and guidelines to qualify. Buying a home FHA Home Buying First-Time Home Buyers

7 Things Sellers Need to Know About FHA Loans When Fielding Offers

HomeLight

You’ve just received the first offer on your home — and it’s backed by an FHA loan. So what do you need to know about FHA loans as a seller? Today, FHA loans represent a fair share of the mortgage market; in 2018, the FHA insured 12.1%

4 Things I Wish I’d Known Before I Got an FHA Loan

Realtor

Michail_Petrov-96/iStock A few years back, my husband and I got an FHA loan. had recently bought using a Federal Housing Administration loan, and it was working out wonderfully. An FHA loan—which allows the buyer to put down as little as 3.5%—sounded

What’s My Home Shopping Budget with an FHA Loan? How to Figure it Out

HomeLight

You’re getting ready to start shopping for a house, and you’re pretty certain you want to go with an FHA loan. The Federal Housing Administration backs loans with less strict credit requirements and low down payment options to help families become homeowners.

HUD to allow borrowers of FHA mortgages to obtain private flood insurance

Housing Wire

Department of Housing and Urban Development , through the FHA, announced on Monday that the change will go into effect on December 21, 2022. Accepting private flood insurance shifts some of the risk to the private market, ultimately helping to protect FHA’s Mutual Mortgage Insurance Fund.”.

FHA unveils 40-year loan modification option

Housing Wire

The Federal Housing Administration (FHA) is moving to expand its COVID-19 loss mitigation “waterfall” by introducing a 40-year loan modification option and is asking the mortgage industry for input. FHA’s 40-year loan modification option has been in the works for quite some time.

Loans 415

Mortgage applications are up, on the strength of FHA refis

Housing Wire

The trade group estimates the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) decreased to 3.30%, one basis point down from the previous week. For jumbo mortgage loans (greater than $548,250), rates rose to 3.33% from 3.27% the week prior.

DACA home loans — FHA will now approve home loans for ‘Dreamers.’ Here’s how to get approved

The Mortgage Report

Thanks to a new policy, FHA is now accepting DACA home loans. Learn about the pros and cons of FHA loans and whether you qualify for financing.

Loans 95

RenoFi targets homeowners who don’t qualify for HELOCs

Housing Wire

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs).

Mortgage applications for new homes down in September

Housing Wire

New home sales purchase activity was weaker in September, and the average loan size rose to another record high, as homebuilders continue to grapple with rising building materials costs and labor shortages. When looking at loans by product type, conventional loans made up 75.1%

Industry supports FHA’s 40-year loan term option — with caveats

Housing Wire

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. An FHA spokesman did not immediately respond to a request for comment.

Loans 364

VA-like housing bill proposed for first responders, teachers

Housing Wire

New legislation would extend a benefit similar to Veterans Affairs loans to first responders and teachers who buy homes. Mortgages would be subject to FHA loan limits. Loan officers, too, sometimes have reservations about government-financed loans.

20 state attorneys general take aim at mortgage servicers

Housing Wire

Some Federal Housing Administration -approved mortgage servicers have routinely flouted the agency’s loan modification program, according to Washington, D.C. The loan modification options allowed eligible borrowers to reduce their principal and interest payments by 25%.

Refinance wave boosts mortgage applications 3.8%

Housing Wire

percent last week, but rates for 15-year fixed-rate loans, FHA loans and jumbo loans all fell to new MBA survey lows.”. Here is a more detailed breakdown of this week’s mortgage application data: The FHA’s share of mortgage apps fell to 11.1%

Some mortgage companies expanding despite challenges

Housing Wire

Led by Irma DeLoen, Geneva Financial’s Chicago branch will offer products including conventional and government loans, such as loans from the Federal Housing Administration (FHA), Veterans Affairs and U.S. Rely Home Loans has plans to expand into Florida and Arizona.

Mortgage applications decrease 4%

Housing Wire

The FHA share of total mortgage applications decreased to 9.1% Mortgage Real Estate 15-year, fixed-rate mortgage 30-year, fixed-rate mortgage FHA loan mortgage applications mortgage rates 2021 VA loan

Auctions see high owner-occupancy rates for foreclosed homes

Housing Wire

This narrative was once again repeated in the HousingWire article announcing the FHA first-look program: “Typically, FHA-insured foreclosed properties are snatched up by large investors and turned into rental properties.”.

Mortgage applications are thinning as summer approaches

Housing Wire

The average loan size on a purchase application edged down to $407,000, below the record $418,000 set in February — but still far above 2020’s average of $353,900.” The FHA share of total mortgage applications decreased to 9.5%

Applications drop, despite falling mortgage rates

Housing Wire

The FHA share of total mortgage applications decreased to 10.7% Here is a more detailed breakdown of this week’s mortgage application data: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.17% from 3.2%

Mortgage applications rebound following drop in rates

Housing Wire

“Borrowers acted on the decrease in rates for most loan types, with both conventional and government refinance applications showing gains,” Kan. The FHA share of total mortgage applications increased to 11.3% After six consecutive weeks of dips , mortgage applications rose 8.6%

Mortgage applications dip as home prices climb

Housing Wire

The FHA share of total mortgage applications remained unchanged at 11.7% Mortgage FHA loan Joel Kan Mortgage Bankers Association mortgage rates 2021 refinance applications VA loan

Mortgage applications rise again, despite rates jump

Housing Wire

The FHA share of total mortgage applications decreased to 9.5% from 0.25 (including the origination fee) for 80% LTV loans. Mortgage Mortgage Rates 30-year, fixed-rate mortgage FHA loan Freddie Mac mortgage applications Mortgage Bankers Association VA loan