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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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 loans: FHA rates and requirements for 2020

The Mortgage Report

FHA loans are easier to qualify for than many other mortgages. FHA rates are low, but come with mortgage insurance. See current FHA rates and requirements. FHA Home Buying FHA loan FHA Mortgage MIP Mortgage mortgage rates U.S.

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.

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

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 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.

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.

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%

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.

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.

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%.

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%

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.

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%

Buyer Beware: Don’t use an FHA loan to buy a 4 plex in Portland!

The Living Room

FHA is a fantastic loan product for first time home buyers who have good credit but don’t have a lot of money saved up. Since many of my clients are investors, they often ask me if they can use an FHA to buy small multifamily properties. FHA Self Sufficiency Test.

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%

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 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

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 jump as rates fall to 2.96%

Housing Wire

“Additionally, refinance loan balances increased for the fourth straight week, an indication that higher-balance borrowers acted to take quick advantage of lower rates.” The FHA share of total mortgage applications decreased to 9.9%

New-year optimism reflected in mortgage applications jump

Housing Wire

“Both conventional and government refinance applications increased, with applications for government loans having their strongest week since June 2012.”. The FHA share of total applications decreased to 9.6% Mortgage applications jumped 16.7% after a 4.2%

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 97

Draft defect taxonomy could have “chilling effect” on FHA market

Housing Wire

The document spells out what remedies the agency may seek if it finds loan-level defects pertaining to servicing. Remedies — punishment for mistakes, in other words — could be as mild as producing additional documentation or as severe as life-of-loan indemnification.

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 jump as rates plummet

Housing Wire

“With over 95% of refinance applications for fixed rate mortgages, borrowers are looking to secure a lower rate for the life of their loan,” Kan said Wednesday. The FHA share of total mortgage applications decreased to 9.1% Mortgage applications increased 5.7%

Mortgage applications fall for fourth week

Housing Wire

The FHA share of total mortgage applications decreased to 11.3% Mortgage Mortgage Rates FHA loan low inventory mortgage applications Mortgage Bankers Association MORTGAGE RATES purchase activity VA loan

Mortgage applications continue to fall as rates climb

Housing Wire

The FHA share of total mortgage applications increased to 11.7% Mortgage Mortgage Rates 30-year, fixed-rate mortgage FHA loan Joel Kan Lumber prices Mortgage Bankers Association MORTGAGE RATES VA loan

After record fall of 18%, forbearances rose slightly last week

Housing Wire

Although portfolio-held and private labeled security loans led the record decline the week prior, those same loans took the lion’s share of last week’s increase – rising by nearly 8,000, the report said.

Mortgage applications increase for second straight week

Housing Wire

All loan types hit their highest levels in two weeks. As a result, home prices and average purchase loan balances continue to rise, with the average purchase application reaching $411,400 — the highest since February.”. The FHA share of total mortgage applications decreased to 9.2%

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

Mortgage applications rise 4.6%

Housing Wire

The average loan size increased again to a new record at $371,500, as activity in the higher loan size categories continues to lead growth.”. As a result, the lower price tiers are seeing slower growth, which is contributing to the rising trend in average loan balances,” Kan said.

Loans in forbearance gain after 6 weeks of decline

Housing Wire

According to the report, the portfolio-held and private labeled security loans were largely responsible for the recent increase, with forbearance share gaining from 7.1% to 7.3% – a total of 28,000 new loans in forbearance.

Loans 376

Mortgage applications decrease as rates move higher

Housing Wire

“The average loan size for purchase loans jumped to $384,000, the second highest level in the survey.”. The FHA share of total mortgage applications decreased to 9.3% Mortgage applications decreased 1.9% for the week ending Jan.