Posts Tagged ‘FHA Refinance Loans’

FHA Loan Rates News, President Obama on Refinancing Mortgage

Thursday, April 9th, 2009

President Barack Obama said Thursday millions of Americans can save money by refinancing their homes and taking advantage of record low rates on fixed rate mortgages.

Speaking at the White House, Obama emphasized that that average rates on 30-year fixed-rates mortgage have dropped to 4.78 percent. That is the lowest rate on record.

Said the president: “People can really take advantage of this.”

Obama touted an increase in refinancing mortgage nationwide as a sign that federal programs to help homeowners are working.

But he warned people to watch out for scam artists. He said if people offering to help people stay in their homes question for money upfront then “it’s probably a scam.”

So, what are you waiting for? Mr. President already told us to refinance our mortgage. Use FHA Refinance Loans to refinance your home. You can start to look for FHA mortgage lenders in this site to help you.

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FHA Home Loans

Tuesday, January 27th, 2009

FHA Home Loans: One of the Ways for Home Mortgage Buy and Refinance Loan

If you’re a first time borrowers, it is likely that you have heard of Federal Housing Administration (FHA) home loans. But, most people don’t realize that FHA home loans, can also be does for refinancing as well as for purchasing a house.

Who operates FHA? The Housing and Urban Development (HUD) owns and operates FHA. FHA is a program designed to help borrowers like you who might have difficulty buying a house. If you (the borrower) fall within FHA’s loan requirements, FHA insures the loan for the lender, which makes the loan very low risk for the lender. As a result, you could get a lower interest rate, better terms and an overall better loan. How’s that?

What’s more, FHA loan’s requirements are simpler than private loans. FHA’s requirements are: a down payment of 3-5% and the home must be under the FHA’s set loan limit for the county that you live in, plus a few other small requirements.

If you fall within their requirements, your credit history or income level will not hold you back from getting a home loan. FHA loan’s requirements are much more flexible than other lenders. If you have a high debt to income ratio, or terrible credit, it is likely that you got turned down by lenders.

For you who are unsure about giving that much amount of down payment, consider that FHA loans allow the use of a non-profit organization as a source for the down payment, eg.: Neighborhood Gold down payment help program.

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FHA Loan Rates News, Home Prices Fell But The Mortgage Rate Rise

Thursday, January 22nd, 2009

Thursday, January 22, 2009, Excellent information for you who want to buy a home, first time homebuyers or you want to buy the second house. U.S. home prices fell 1.8% in November, the largest monthly decline ever recorded by the Federal Housing Finance Agency, the government said.

In the past year, home prices are down a record 8.7%, compared with a 7.5% drop through October. Since the peak in early 2007, home prices are down 10.5%, FHFA said. In November, the largest declines were seen in the West North Central states (down 2.7%) and in the Mountain states (down 2.4%).

Home prices fell in all nine regions in November, and are down in all nine regions over the past year. Prices have fallen 22% in the Pacific region in the past year. The FHFA index measures the difference in sales prices for the same properties over time.

The 30 year fixed mortgage rate rise today, official from Freddie Mac. But with the fell of home prices, it is still a excellent condition for you, even if the FHA loan rates rise. And for you who want to refinance your mortgage with FHA refinance loans, this condition still a excellent condition to take the action.

With this report, you already figured how low the FHA loan rates or FHA refinance loan rates will be. So you can take your choice when to take the FHA loans.

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FHA Loan Rates News, Low FHA Interest Rates?

Thursday, January 15th, 2009

Thursday, January 15, 2009, News from Freddie Mac, 30 year fixed mortgage rate fell again, now under 5%. 30 year fixed mortgage rate already fell for the 11th week in a row to 4.96%, with an average 0.7 point for the week ending Jan. 15. In the previous week, the average was 5.01%, while the year-ago average was 5.69%.

The continuing decline in 30-year fixed rate mortgages was partly attributed to the slowing economy and to government actions to help the housing sector, according to Frank Nothaft, Freddie Mac chief economist. “So far, both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which place downward pressure on interest rates for fixed-rate mortgages.

The Federal Reserve may add up to an additional $570 billion more this year, based on its Nov. 25, 2008, announcement, to further shore up mortgage lending and keep rates low,” Nothaft said in a statement.

What about FHA Loan Rates, will fell too?

Check the FHA loan rates online, go to your FHA banks or question your FHA lender now.

For you who want to refinance your home, you can question about FHA refinance loans too. With low interest rates, you can take more benefits. You can get cash money and low monthly payment too.

If you want to buy a home, first time homebuyers, you can start from this site.

Read other articles about FHA loan rates, FHA loans, FHA refinance loans, FHA mortgage etc. Know it, question your lender or professional advisor then choose the right program for you.

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FHA Mortgage Brokers, How They Can Help You?

Thursday, January 15th, 2009

FHA mortgage brokers will help you to know the FHA loans process, the benefits of a FHA loan, and will help you to determine if you qualify for a FHA loan. FHA mortgage brokers will help you determine if you can afford the down payment, closing costs, and monthly payments which are most times substantially lower than when using a traditional lender. Sometimes FHA loans will include closing costs and down payments in the loan so that you are not required to pay anything upfront when purchasing a home.

For first time home buyers a down payment can be as small as 3% of the home’s price, which is much lower than the standard 10% needed when getting traditional financing. Closing costs which are usually a few thousand dollars can also be financed in the loan further reducing the amount of money you will need up front. FHA loans are not only for first time homebuyers, but, and can be utilized by people with many different needs.

There are FHA programs for seniors s well that all them to get cash for the equity in their homes, programs for mobile homes, and even FHA refinance loans that allow you to refinance your existing mortgage with better terms which will lower your monthly payments. If you are looking to build or improve a property you can also get FHA loans that will cover the costs of building, improvements, or renovations.

With the current lending climate it can be hard to find a traditional loan. Credit restrictions are tight and buyers need a large down payment. FHA loans can be the answer for people who need help getting into a home, who need to improve their credit, or who can afford a home but do not meet the traditional loan requirements. Buying a home is an vital choice and should not be taken lightly. FHA mortgage brokers can help you determine what type of loan is right for you and if you can afford a mortgage payment.

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