How affordable are homes in your area? The National Association of Home Builders (NAHB) may be able to answer that with its Housing Opportunity Index. It is a list of metropolitan areas in the U.S. with the most and the least number of affordable homes during the third quarter of 2017.This NAHB/Wells Fargo Housing Opportunity Index takes into account the median family … [Read more...] about Housing Opportunity Index: How Affordable Are Homes in Your Area?
The Federal Housing Administration (FHA) recently submitted its annual report to Congress for fiscal year 2017. It discussed, among other things, the financial status of the mutual mortgage insurance fund and highlights on its single-family forward mortgages or FHA loans as they are known to all.FHA loans have been around since 1934 at the time when America … [Read more...] about Profiling Borrowers, Characteristics of FHA Loans Made in FY 2017
For the second year, the Federal Housing Finance Agency, who oversees Fannie Mae and Freddie Mac, has increased loan limits on conforming mortgages in 2018.The increase in 2018 conforming loan limits matched rising home prices felt across the U.S. Based on its House Price Index, the FHFA revealed that house prices jumped 1.4% in the third quarter of 2017. On a … [Read more...] about You Can Borrow More for a Home as FHFA Raises 2018 Conforming Loan Limits
The Federal Housing Administration’s (FHA) recent annual report to Congress confirmed as much: the reduction in mortgage insurance premiums will not materialize anytime soon.This puts an end to rumors about the reduction being reinstated after President Trump suspended it indefinitely along with other last-minute policies from the Obama administration.Should the … [Read more...] about Mortgage Insurance Premium Cut Remains Suspended Indefinitely
Closing costs don’t come cheap. They average $4,876 on a $271,363 home per ClosingCorp. Still, you don’t have to pay some or all of these closing costs. Enter seller concessions.A legitimate arrangement between a seller and a buyer, seller concessions work with mortgages. Not only do buyers get help in their upfront homeownership costs, sellers too get to close the … [Read more...] about How Do Seller Concessions Work, Help You With Your Closing Costs?