FHA Lowered and Streamlined the Mortgage Insurance Premiums FHA is reducing the Mortgage Insurance monthly factor eliminating the distinction in rates based upon the base loan amount. As you can see … [Read more...]
FHA Limited 203(k) Mortgage
FHA 203k Limited Mortgage 2016 printout Limited 203(k) Mortgage FHA's Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or … [Read more...]
Buyer’s costs itemized & printed with automatic title, escrow, etc.
Working With Borrowers Print financing options & PITI (& PMI, if applicable) on any loan in moments Buyer’s costs itemized & printed with automatic title, escrow, credit report, … [Read more...]
FHA Annual MIP (MMI) change is a substantial savings in the monthly payment
The new MMI changes go into effect on January 26, 2015. I made those changes to the REALPRO for Windows program, the REALPRO and the REALPRO Plus. I will be making more changes to the REALPRO for … [Read more...]
FHA To Reduce Annual Insurance Premiums
The new MMI changes go into effect on January 26, 2015. I made those changes to the REALPRO for Windows program, the REALPRO and the REALPRO Plus. I will be making more changes to the REALPRO for … [Read more...]
FHA 203k Rehab Loan and how to calculate it
Streamlined 203(k) Mortgage FHA's Streamlined 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and … [Read more...]
Prequalification Program to add to your Open House Flyer
You all put together Open House Flyers that show the home details, a few pictures and the price of the home. Adding some approximate financing options or income needed to qualify for the home would … [Read more...]
Side-by-side Financing Comparisons using REALPRO
The REALPRO for Windows program will allow up to 5 side-by-side financing, prequalification or refinance comparisons. This can be used to demonstrate to your client that options they have when making … [Read more...]
MCC | Mortgage Credit Certificate
Mortgage Credit Certificate A Mortgage Credit Certificate (MCC) entitles qualified home buyers to reduce the amount of their federal income tax liability by an amount equal to a portion of the … [Read more...]
FHA Maximum Loan Amounts have decreased
The FHA Maximum Loan Amounts changed for 2014. Keep this in mind when you are working with your clients. If your county is not on this list click here to find your specific … [Read more...]
FHA Monthly MI increases on April 1, 2013
The FHA Annual Mortgage Insurance increased on April 1, 2013. This applies to the Annual MI, not the UFMIP (Upfront Mortgage Insurance Premium) typically financed into the loan. I have included a … [Read more...]
House Passes FHA’s Fiscal Solvency Act
The Federal Housing Administration (FHA) Fiscal Solvency Act of 2012 has been passed by the full House of Representatives by a vote of 402-7. The Fiscal Solvency Act includes provisions to strengthen … [Read more...]