Jason Gonzalez, Florida Mortgage Broker
FHA Waiting Period REDUCED to One Year Prior Bankruptcy, Foreclosure or Short Sale OK FHA has changed the rules again, but this time for the better! As of last week, FHA will now allow borrowers with a previous short sale, foreclosure or bankruptcy (over one year ago) to buy a new home! Regarding FHA Mortgagee Letter 2013-26 […]
How to Calculate an FHA Mortgage Payment Calculating a mortgage payment the right way can be a tall order for most big bank employees, let alone your typical home buyer. Since most of the loan applications coming through these days are for FHA purchases with a 3.5% down payment and 30 year amortization, we’ll focus on that scenario […]
Florida Mortgage Rates Update In case you hadn’t heard, Florida mortgage rates are shooting up faster than a 4th of July firework right now. This comes in light of some ‘positive’ economic data and speculation that the end of government stimulus is at a near. A stimulus, in this broad sense, is when the government […]
Current FHA Mortgage Rates HOME BUYER ALERT! FHA Changes June 2013 … Forever! One look at the current FHA mortgage rates and it’s not difficult to see why everyone is rushing to their local banks to apply for a new, Florida FHA mortgage. Current homeowners Remember the day a few years ago when a mortgage […]
All about FHA PMI ( or FHA MIP, more accurately ) Most people refer to it as PMI, which is short for Private Mortgage Insurance. The truth of the matter is that when speaking in regards to an FHA mortgage in particular, it is actually MIP, or Mortgage Insurance Premium. “Private” mortgage insurance (PMI) polices […]
FHA Makes Two HUGE Changes Well, the Federal Housing Administration (FHA) is at it again. In an effort to reduce the amount of risk exposure the federal organization has in the housing markets, they have agreed to make some pretty hefty changes to FHA loans moving forward. The most notable changes include: Increase in monthly […]
FHA Streamline Refinance : New and Improved THIS ARTICLE CONTAINS CORRECT AND UPDATED INFORMATION AS OF August 21, 2013 Refinancing your FHA mortgage just cheaper! Get your FHA streamline refinance applications ready! FHA is lowering the required mortgage insurance premiums for all loans made prior to May 31, 2009. The changes are as follows: For […]
If you are upside down on your FHA mortgage … KEEP READING! Little known fact : There are over 10,000 Florida homeowners that are paying an interest rate of 5.5% or more on their current FHA mortgage loans. Are you? Another little known fact : Regardless of what you may have heard, even if your […]
FHA LOAN PROPERTY REQUIREMENTS If you’ve been looking at homes and plan on obtaining an FHA mortgage loan, this article is a must read! FHA is one of the most popular loan programs in today’s Florida mortgage market. With a very doable 3.5% minimum down payment requirement, coupled with less stringent underwriting guidelines, the FHA […]
Buying a Florida Home? This is a MUST Read! You are reading this article for one of two reasons; you are either looking to buy a Florida home already or wondering if buying is right for you and your family. Worry not, by the end of this read, you’ll have enough information to make an […]
Florida FHA Changes Ahead! This is the final week to get your FHA mortgage applications in under the current guidelines. Starting next week (April 1st officially) Florida FHA mortgage loans will cost more money. How? Well, the Federal Housing Administration decided to raise the up-front mortgage insurance premium (MIP) as well as the monthly […]