article thumbnail

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. UWM, the second-largest lender in the country, is offering rates between 1.99% and 2.5%

FHA loan 488
article thumbnail

HUD extends COVID-19 forbearance for FHA loans

Housing Wire

The post HUD extends COVID-19 forbearance for FHA loans appeared first on HousingWire. According to the agency, eligibility for the extension is limited to borrowers who are on a COVID-19 forbearance plan as of Feb. The FHFA said other limits may apply to the extension but did not provide specific detail.

FHA loan 523
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FHA does a solid for mortgage credit rejects. Will it move the needle for loan officers?

Housing Wire

Demand for FHA loans have risen over the past year to comprise 23.8% We are really happy about this change because it’s going to provide more opportunity for loan officers and is going to provide more opportunity for buyers to get a second chance,” Michael Borodinsky, VP and branch manager at Caliber Home Loans , said.

article thumbnail

New Home Sales Increasingly Backed by FHA Loans

Eye on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% Conventional loans financed 73.7%. in the second quarter of 2023.

article thumbnail

What to Know About FHA Loans

Realty Biz

If qualifying for a conventional loan is difficult, and you aren't eligible for VA or USDA loans, an FHA loan could be the answer. FHA loans allow you to pay 3.5% But there are also downsides to FHA-insured loans. So is this type of loan right for you? What are FHA Loans?

FHA loan 104
article thumbnail

Lift the ban on lenders providing down payment assistance on FHA loans: Ted Tozer

Housing Wire

Lifting a ban on mortgage lenders providing down payment assistance (DPA) to Federal Housing Administration (FHA) borrowers would help underserved borrowers become homeowners, according to a paper published by the Urban Institute.

FHA loan 353
article thumbnail

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. So it’s win-win all round!