The H.R. 3081 Appropriations Act of 2010 passed in the Senate this week. The legislation insures that FHA loan limits will remain unchanged until at least September 30, 2011. The controversy around the high FHA loan limits currently in place continues. Those who oppose them argue they could lead to another housing bubble. Those who support them say they are needed to prevent further deterioration of the housing market.
Learn about FHA Loan Limits and H.R. 3081.
On September 1, 2010, the U.S. Department of Housing and Urban Development (HUD) announced changes to insurance premiums for single family mortgage and refinance loans insured by the Federal Housing Administration (FHA).
Get the details on Mortgagee Letter 2010-28.
Do you live in a recently designated Presidential disaster area? If so then as a disaster victim you may qualify for assistance getting a mortgage for a home. The Federal Housing Administration (FHA) insures such mortgages under Section 203(h) of the National Housing Act.
Get more information about the FHA 203(h) mortgage program.
If you would like to buy a “fixer-upper” then perhaps an FHA mortgage insured under Section 203(k) of the National Housing Act can make your life easier. These loans can even be used to refinance and rehab your existing home. Find out the benefits of this mortgage program and how it works.
Get the details on FHA 203(k) loans.
The Section 203(b) program is the centerpiece of the Federal Housing Administration’s mortgage insurance program. Its purpose since the 1930s has been to promote home ownership in the United states by reducing the amount of risk taken on by lenders, and thereby promoting easy-to-qualify mortgage loans.
Learn about the FHA 203(b) loan.
The Federal Housing Administration (FHA) offers individuals with an existing FHA mortgage a relatively painless way to refinance their home called an FHA streamline refinance loan. It requires very little documentation and underwriting, so it “streamlines” the refinance process.
Learn about FHA streamline refinancing.