For the first time in a long time, credit standards have actually loosened in regards to getting a home loan. Borrowers getting FHA home loans can once again get a mortgage with credit scores as low as 580. With no fanfare or public announcements, two of the largest FHA-approved lenders have backed off their controversial [...]
All articles in category: "Mortgage News"
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Borrowers Can Once Again Get FHA Loans With 580 Credit Scores
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Oct 4 FHA Mortgage Insurance Changes Will Increase Annual Mortgage Insurance
With all the foreclosure activity we have seen since the housing market started slipping, mortgage insurance companies have really suffered. Mortgage insurance is essentially “foreclosure insurance” for banks. When a home buyer purchases a house with less than a 20% down payment, they are usually required to pay for a policy of mortgage insurance to [...]
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FHA Mortgage Insurance Well Be Less Upfront, More Expensive Monthly
The record breaking number of foreclosures have really caused a strain on mortgage insurance companies. To help make up for the losses, the FHA recently increased FHA mortgage insurance premiums to help offset some of the losses. The upfront costs were two much for most buyers, who can’t save up for any kind of down [...]
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Mortgage Rates at a 46 Year Low Today
I just got an email notifying me that FHA Mortgages are at their lowest point in 46 years! The par rate is 4.5%. That means if you pay more up front, you can get an even less expensive rate. BankRate.com has the par rate of some 30 year fixed conventional rates at 4.534%, 15 year [...]
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Mortgages Explained- Utah Real Estate Blog
- Home Prices are UP in UtahReport: Utah home prices up There's more evidence Utah's real estate market is turning around. Utah home prices were up 2.3 percent in March compared to March 2011, according to research company CoreLogic. Compared to other states, Utah had the 14th highest appreciation. The picture looked even better when distressed properties were excluded. When […]
- Logan Utah Real Estate Market Conditions: Home Sales Down in AprilApril home sales for Cache County Utah are not quite as good as they were during March. Compared with April of a year ago, home sales improved 7%. 71 homes sold during April compared with 66 in April of 2011. The number of homes for sale has also risen, but this is typical for spring. Their are currently 681 residential homes for sale in Cache County. This i […]
- The Future Is Looking Bright For Utah Real EstateYesterday, the division of real estate came and spoke to Realtors, Mortgage Lenders, and Appraisers in Cache Valley. They gave us an update of the Utah Real Estate market as well as the Utah Economy as a whole. In general, they had very many positive things to say, among them: Utah was ranked the number #1 state for business and careers. #1 for Economic Dyna […]
- Home Prices are UP in Utah