We are picking up our series “Understanding Financing” with today’s post, where we will look at the main loan products that most buyers use in the purchase of real estate. There are a lot of products on the market, various criteria to qualify for each, and different requirements from different lenders. My goal today is… Continue reading Loan Products: An introduction to loan products for buying real estate
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Tag: Federal Housing Administration
FHA Reduces Mortgage Insurance Premiums
Mortgage Insurance Premiums | The Federal Housing Administration (FHA) reduced mortgage insurance premiums by a quarter of a percentage point (from 0.85% to 0.6%) starting January 27. (0.25% for 30-year loans and 0.20% for 15-year loans.) HUD says that this should decrease borrowers costs by $500 a year on average (a $200,000 loan). While this… Continue reading FHA Reduces Mortgage Insurance Premiums