On January 26, 2015, FHA reduced its annual mortgage insurance premium rates by .50% for most new mortgages – lowering monthly payments and increasing your opportunity to achieve homeownership. How you can benefit: With the reduction to mortgage insurance premiums, you may qualify for a larger purchase price If you currently have an FHA loan, you may be eligible to refinance and Continue Reading
Are you up to speed on the Qualified Mortgage rules?
Ability to Repay/Qualified Mortgage (QM) Rule The new ATR/QM rules created by Dodd-Frank Wall Street Reform and Consumer Protection Act went into effect on January 10, 2014. Congress created the CFPB to make sure financial markets work for consumers. The CFPB created rules for mortgages and consumer financial products. A Few Key Points about Qualified Mortgages: Limits on loan features No Continue Reading
