Mini Mortgage Questionaire
Posts By Jim Duffy
FHA home loans are among the easiest loans to qualify for. Instituted during the depression era of the 1930s, the Federal Housing Association since has helped tens of thousands of Americans to buy their first home, or move-up home, with a small down payment and very favorable rates and terms.
However, FHA loans are a [...]
Atlanta, Georgia - 678-362-8156
On April 5, things changed. No news there; things have been continually changing in the mortgage lending world for some three years now.
But this one will affect a lot of Atlanta home buyers, since so many are finding that FHA loans are the best for their circumstances. And even though Atlanta FHA loans are a [...]
Atlanta, Georgia - 678-362-8156
Atlanta FHA loans are just about to get a bit more expensive. Well, truth be told, so are all FHA loans.
There is one definitive reason for the increase, and one speculative reason.
First, what we know for sure, and that is the Up Front Mortgage Insurance Premium (Up Front MIP) is going from 1.75% to 2.25% [...]
Atlanta, Georgia - 678-362-8156
GDP numbers for the fourth quarter are out this morning, and the economy grew at a surprising 5.7% rate – better than anyone expected! And stocks will open higher, and milk and honey will flow! And, very shortly, singing and dancing will turn to tears.
Why? Simple. The Federal Reserve said again on Tuesday that by [...]
Atlanta, Georgia - 678-362-8156
Reports that FHA may be the next ’sub-prime’ implosion have been swirling for some time now. The reason is that an FHA loan is simply a mortgage that is insured by HUD against default, to protect the lender, and the reserve insurance funds are dwindling. And if HUD were to run out of money to [...]
Atlanta, Georgia - 678-362-8156
That was the question I was asked from a home buyer who was purchasing a home in north Fulton County for $320,000, and planned on putting 10% down payment on that home.
A simple question: FHA or conventional? Which is better? But the answer is not quite so simple at first glance. Let’s dig into it.
A [...]
Atlanta, Georgia - 678-362-8156
Atlanta real estate is a bargain right now. Getting approved for an FHA loan in Atlanta is easy right now. Buy your home now around Atlanta, and you get free money from the Federal and State Governments.
It’s a great time to buy. But things could get tighter in a hurry. Here’s why:
A bill has been [...]
Atlanta, Georgia - 678-362-8156
According to the standard dictionary definition, a mortgage is
A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt.
Okay. We pretty much all surmised that without turning to our friend Webster. But, I want to turn to another influential man, Sir Edward Coke (pronounced Cook), [...]
Atlanta, Georgia - 678-362-8156
Last week, I conducted a training for first time home buyers, in Gwinnett county. As always it was packed with information and very practical tips. Yet, one of the stats that we gave got the most “Aha” moments from the crowd. You know the one, where a light bulb goes off over your head and [...]
Atlanta, Georgia - 678-362-8156
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