Congress has voted on a proposal to increase the cost of FHA mortgage insurance on a monthly basis. This change will decrease the Up Front Mortgage Insurance premiums, while increasing the monthly borrower paid Mortgage Insurance, based on a tiered cost, depending on the loan amount. This short video explains the changes:
Category Archives: Atlanta FHA Loans
Buy Now Before Rates Rise
The Wall Street Journal had an interesting article this morning that highlights the dilemma that many feel whether to buy now, while mortgage rates are low, or wait and hope that home prices drop further as mortgage rates rise. A few days ago I wrote a post defining housing affordability for any metro Atlanta ...
Is It Better To Lock In At A Low Rate Now Or Wait For Prices To Decrease?
The news media have been buzzing with mostly bad news about the housing market for the past couple of years; and from the looks of things they will not be stopping anytime soon. As a result, many prospective home buyers in my Atlanta market ask one basic question: is it better to buy a home now, ...
Atlanta First Time Home Buyers – Watch This!
My industry colleague, Dustin Hughes, made this video for first time home buyers for his market, Portland. It is applicable here in Atlanta, so I hope you enjoy it. Now, if you are an Atlanta first time home buyer, call me for ...
Atlanta FHA Loans for HUD Properties Could Be Your Best Option
As of this writing, there are 2,244 HUD owned properties for sale in Georgia. And, they are generally all affordable. But you know the great thing about considering buying a HUD home? If you ...
Big Changes Coming for Atlanta FHA Loans
This is a post first put here. I thought it so important for you to know that I have reposted it. Reports that FHA may be the next ’sub-prime’ implosion have been swirling for some time now. The reason is that an FHA loan ...
Cash Out Refinances: A Memory of Past Times
Well, almost. They are still around, but much harder to get and you will leave a lot more equity in your home than in years past. Home equity lines of credit (HELOCs) were the easiest and most common ways to tap into the equity in your home; and going to 90-100% of the home's value was ...
Credit Requirements for an FHA Mortgage Loan
With so much talk in the news about the 'credit crisis' and the mortgage meltdown, I understandably am asked frequently, "How can anyone qualify for a loan nowadays?" And, most folks asking would like to buy a home, but just figure that they cannot qualify. So, ...
FHA Financing May Change. Act Fast.
Getting approved for an FHA loan around Atlanta is easy, for now. Buy your home now, and you get 8,000 free smacks from the Government. And, Atlanta real estate is on sale. Now is a great time to buy. But FHA lending guidelines could get much tighter in a hurry. Here’s ...
First Time Home Buyer Affordability High
I gave a first time home buyer seminar in Gwinnett County last week, and one of the stats that got the most attention was the fact that home affordability is at all-time highs - making right now the optimal time to buy a home anywhere around metro Atlanta, but primarily optimal for first time home ...