Breaking News! HUD Updated Gift Fund Guidelines to Add Increasing Flexibility on FHA Loans

Blog posted On June 05, 2024

The Department of Housing and Urban Development (HUD) recently updated its guidebook that spans over 1,800 pages. One of the updates brought welcome news for borrowers using an FHA Loan. With the new requirements, borrowers have additional flexibility surrounding any gift funds they might receive.


How to Lower Your Interest Rate on an FHA or VA Loan

Blog posted On September 01, 2022

Housing affordability has become increasingly difficult in 2022 as home prices and mortgage rates have trended higher. Many buyers are eager to escape soaring rent prices but struggling to find affordable ways to buy a home. A couple of popular loan options for new buyers are FHA Loans and VA Loans. They’re generally easier to qualify for and offer more lenient underwriting requirements. Plus, you can now lower your monthly mortgage payments for up to three years with our temporary interest rate buydown for FHA and VA Loans.


Government-Backed Mortgages Explained

Blog posted On November 18, 2021

The extensive list of different home loans can be overwhelming, especially for first-time buyers. FHA, USDA, VA – the acronyms can get confusing.  But they’re worth understanding because they could help you save thousands of dollars on your mortgage.


9 Loan Programs for First-Time Home Buyers

Blog posted On October 28, 2021

Saving for the down payment is one of the biggest hurdles for first-time home buyers. But with the help of low down payment loan programs and down payment assistance, you can be home sweet home in no time.


HUD Holds FHA Premiums Steady, Home Buyers Still Win

Blog posted On April 06, 2021

Last week, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge announced that there would be no cuts to FHA mortgage insurance premiums (MIPs). Most of the housing industry had hoped for a 0.25% reduction, but for now the benchmark annual MIP rate will remain at 0.85%. 


More First-Time Home Buyers Choose Conventional Over FHA Loans

Blog posted On March 30, 2021

The FHA Loan has been a cost-effective staple for first-time home buyers since its creation in the 1930s. With low down payments and lenient credit requirements, the FHA Loan has helped millions of home buyers over the years. However, recent data by the National Association of REALTORS® (NAR) has shown a sharp decrease in the number of buyers who are financing their first homes with the FHA Loan. Over the past 1-2 years, more first-time buyers have been choosing the conventional financing route – but why? When might a conventional loan be a better option for first-time buyers? 


Removing Insurance from an FHA Loan

Blog posted On March 04, 2021

The FHA Loan is one of the most popular government-backed loans. With lower down payment options and less restrictive requirements than conventional loans, it’s an especially appealing program for home buyers like first-time buyers who may struggle to qualify for a conventional loan. If you decide to finance your home with an FHA Loan, you will be required to pay mandatory mortgage insurance.



Low Down Payment Options: FHA Loan vs. Freddie Mac Home Possible Loan

Blog posted On October 08, 2020

You grew up dreaming of the day that you trade in the treehouse and purchase a home of your own. You’ve done the research, found the perfect place, but there’s one thing still standing in between you and your American Dream come true: the down payment. 




Flexible Ways to Use the FHA Loan

Blog posted On March 26, 2020

The FHA Loan is a popular home loan for first-time home buyers because of its low down payment options and more lenient credit score and debt-to-income ratio requirements.  In 2018, approximately 83% of FHA borrowers were first-time home buyers.  When using an FHA Loan, you have to use it on a home that will pass the FHA appraisal.  In a busy market, it may be hard to find the right home to pass the FHA appraisal.