Buying a Home While in Bankruptcy

Bankruptcy

Did you know that it is not impossible to buy a home while in bankruptcy? I just closed a loan like this last week, and trust me when I say it was a loan most lenders would have denied! The public’s perception of the current mortgage rules is that perfect credit is required to get […] Read more »

FHA Changes are HERE!!

The dreaded FHA changes to the annual MIP rate is here!  Effective April 18th, the new FHA annual MIP rate is 1.15%, which brings a $20 per month increase vs the old premium.  I think FHA and the consumer would have been better served by increasing the upfront premium and leaving the annual (which actually […] Read more »

FHA Increases Annual Mortgage Insurance Premiums

FHA has decided to increase the Annual Mortgage Insurance Premium 25 basis points starting April 18th, 2011.  The annual MIP is collected in the borrower’s monthly payment.  Right now the annual fee is 90 basis points, which would be $900 on every $100,000 borrowed or $75 per month.  A borrower’s monthly payment would increase $20.83 […] Read more »