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
When home prices continue to push buyers away from the already scarce inventory, alternatives have to be sought. Among which are pre-foreclosed properties. What are these properties and is it wise in invest in them? Looking for an affordable home can be a challenge for homebuyers especially in major cities in the country. During the past year, home prices have … [Read more...] about How Do You Buy a Pre-Foreclosed Property?
A survey released by the Mortgage Bankers Association (MBA) revealed that the total mortgage applications for newly built homes was higher in October than in any other month so far this year. The Report The Builder Application Survey of the MBA showed that the total number of applications during the month of October rose 16.1% compared to the same period last year. Moreover, … [Read more...] about MBA: Mortgage Applications Surge in October
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
If seen from a longer-term perspective, housing remains much more affordable, said Black Knight. This is based on its September Mortgage Monitor that showed a lower percentage of median income was required to buy a median-priced home back in September.This affordability in housing has rallied against rising home prices that offset savings from historically low rates. As … [Read more...] about U.S. Housing Remains Affordable Despite Rising Home Prices, Says Black Knight