In a HUD Mortgagee Letter dated September 1, 2010, the new FHA Mortgage Insurance changes were rolled out and it seems it is going to change the way FHA mortgage loans are written.  Please find the link to a copy of the Mortgagee Letter below: Mortgagee Letter Essentially, they are lower the Up Front MIP [...]

An informed decision always yields better and more successful results. For a buyer looking into the market for a new house or car, knowing your options and the consequences of certain decisions can help you avoid financial mishap that often happen into the future. Coursing your direction into the right path at the outset can [...]

More than getting a fresh start on your home loan, refinancing mortgage loans can give you extra flexibility on your payment. One of the benefits of Florida refinancing is the tax deductibility feature of the amount that qualifies as home acquisition debt. People may not be aware of how their mortgages work; hence, they fail [...]

Numerous books have been released on how to get rich and experts have come out selling their secrets on how to succeed in building up assets the sure fire way. Asset building is of great interest, especially to those who are willing to take the risk. But of course as it has been often said, [...]

A Florida mortgage is an instrument of financial leverage. When you take out a mortgage, this is a lot different than taking out a loan. When you “mortgage something” in terms of the verb of the word, what you’re doing is you’re taking an asset, and you’re borrowing against that asset. If you’re going to [...]

Today’s release of July employment data has vastly greater political consequences than economic or financial. Those consequences extend beyond elected officials to policy makers at the Fed, and inside the administration and out.      Net of all the moving parts (census workers) and revisions (June minus 152,000), job creation is flat. A minor up-trend in [...]

For a lot of investors, YES!  As a measure of tightening up in the mortgage lending industry, most banks are now requiring a 640 minimum credit score.  This has increased from the most recent mandatory requirement of a 620 median credit score needed to qualify for a home loan.  These are referred to as “layered [...]

They sure are!  Freddie Mac’s weekly survey shows that the average 30 year mortgage rate still remains at a record low. The average 30 year fixed mortgage rate of 4.57% remains unchanged from a week earlier.  Last year this time, the average 30 year fixed rate was 5.14%.   15-year mortgages were lower of course, [...]

The RH Funding Co. Mortgages for Champions program offers a special NO BANK CLOSING COST mortgage for our American Heroes in the following fields: Law Enforcement – Police, Sheriff, Parole, and Correctional Officers Fire Rescue – Firefighters, EMS, EMT, and Paramedics (volunteer also) Medical – Nurses, Laboratory Technicians, Pharmacists, Therapists, Social Workers, Chiropractors, Medical Administrators, [...]

Have you ever seen a great mortgage interest rate advertised only to call and find out that you don’t meet the standards of an “excellent” borrower?  Here are some tips to get you into the lowest mortgage rates in history! #1 Pay your bills in a timely fashion Approximately 35% of your credit score is [...]