article thumbnail

Conforming, FHA loan limits rose for 2024, but who benefits? 

Housing Wire

Rising home prices also prompted the Federal Housing Administration (FHA) to adjust its loan limits — with the “floor” FHA loan limit for one-unit properties increasing to $498,257 in most parts of the country.

FHA loan 393
article thumbnail

CBC Mortgage Agency offers temporary rate buydowns on FHA loans

Housing Wire

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The agency is the first to provide either a 2-1 rate buydown or a 1-0 rate buydown on a DPA program.

FHA loan 342

Sign Up for our Newsletter

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

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 471
article thumbnail

Cap on servicer fees for FHA loan assumptions doubled to $1,800


While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly.

FHA loan 145
article thumbnail

Are FHA Loans Assumable? A Guide for Homebuyers


As you navigate the complex world of home loans, one term you might have come across is “assumable loan.” ” Specifically, FHA loans, known for their lower down payment and credit score requirements, often come into focus. But are these loans assumable? Are FHA loans assumable?

FHA loan 103
article thumbnail

Why Sellers Don’t Like FHA Loans

Maximum Exposure Real Estate

What Are Potential Problems With FHA Buyers For Home Sellers Are you wondering whether to accept an offer from a buyer with an FHA loan? Have you heard that FHA loans could be a potential pitfall for a seller?

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.