Changes To FHA Scoring Algorithm Could Affect Some Home buyers
The number of cash-out refinances, the average borrower credit score, and borrower debt-to-income ratios are all risk factors the FHA says it examines when evaluating how they score a borrower on their TOTAL Mortgage Scorecard. Recently they took a look and noticed that a few...
FHA Loans: Is It The Right Loan For Your Home Purchase?
So you want to learn more about FHA loans, you’ve come to the right place. Let’s start with some background knowledge. These are mortgage loans that are insured by the Federal Housing Administration, hence the acronym FHA. They’ve been around for over 80 years. FHA...
FHA Drops MIP Fees
Big Changes to FHA Means BIG Savings For You. Big news came from the Federal Housing Administration on Monday! They announced that they were dropping the annual Mortgage Insurance Premiums for their loans. It won’t go into effect until January 27. The change is expected...