If you haven’t heard, FHA announced on February 14th that it is raising the annual mortgage insurance premiums, also known as the FHA monthly mortgage insurance. These changes are mentioned in Mortgagee Letter 11-10 and become effective on or after April 18th, 2011. The new change is 25 bps more. I have already heard that some of you…

Consider the following three things when deciding whether or not to lock in your mortgage interest rate: Lock in your rate as soon as you know you have a good deal in front of you, and you know roughly when you can close (30 to 60 days should be the longest lock period). Lock it…

The top mortgage lender in the country has called for borrowers to come up with 30% down if they want to avoid higher mortgage rates and more restrictive lending tied to the “risk retention” requirements related to the Dodd‐Frank Wall Street Reform and Consumer Protection Act of 2010. Essentially, the government wants to ensure that…

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (called the SAFE Mortgage Licensing Act of 2008) is being made the rule of the lending land even as we speak. Are you safer as a result? The SAFE Act of 2008 is a form of legislation that has been batted around in Washington…

Government grants for first time home buyers have become extremely popular during the recession. New requirements from mortgage lenders often make federal grants the only resource for couples to buy their first house with almost no initial capital. Click Here to Get Great Rates And A Speedy Approval From Lending Tree Without Any Hassels. Go…