We are purchasing a new home and the builder is upset we are applying for a FHA Mortgage. The contract was written that we would go conventional, however, FHA is a lower monthly payment, lower interest rate. They are telling me that I need to get a commitment for both types of mortgages – can [...]
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Archive for August, 2010
Can you apply for both a conventional and FHA mortgage at the same time?
By admin on Thursday, August 26th, 2010 | No Comments
In doing a 30 year fixed rate mortgage, what is the better option. A bank or credit union or a broker?
I have been researching mortgages for months and no one gives me a straight answer and even if it seems that they do. The next person I talk with has a conflicting answer. It seems that Brokers charge more closing costs but banks don’t seem to have as much information on the market and they [...]
Read More...Can I rent my home if I have an FHA mortgage on it?
My home has been on the market for almost a year (OH is very slow market right now). I am considering renting it to offset my mortgage expenses, but am unsure if there are restrictions because I’m financed FHA that prevent that. Also, would I need to change my homeowners insurance?
Read More...Is it really possible to pay off my 30-year fixed rate mortgage in 5-7 years?
I saw a so-called expert on a news broadcast this morning who said people in Australia and Europe have discovered a way to leverage their debt and finances in order to pay off their home mortgages at a faster rate without changing their monthly payments. How is this possible? It was quickly suggested that a [...]
Read More...Can I have my insurance and taxes taken out from my fha mortgage payment ?
I bought my first home with a fha mortgage loan. I wanted to know if there is any way I could have my insurance and my taxes not to be included in my mortgage payment?
Read More...How many properties can a borrower own when obtaining an FHA mortgage?
I know that only one FHA mortgage is allowed per person. But can that person own an investment property and get a refinance FHA on their primary?
Read More...FHA Mortgage?
We are refinancing to a FHA mortgage, and I have heard that they do not require PMI insurance, is this true?
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