Best FHA lenders with Best FHA rates on FHA loans. 30 year, streamline fha, fha jumbo.

FHA loans

Young Americans, Optimistic or Home Buyers?

Mortgage Marvel reports an increased interest in younger Americans wanting to purchase a home this year in a recent online poll executed by Harris Interactive. In the 18-34 year old age group, 41% wish to purchase a home this year.

Of these young respondents wanting to purchase, close to 20% state their finances are less than perfect, but they believe they can still afford a home purchase. Across all age groups, of the 30% of respondents wanting to buy in the next year, nearly 15% wish to do so with questionable credit.

Another interesting statistic, of those with plans to buy in the next year, after reviewing their financial situation, 5% decided they could no longer afford to do so. Of those surveyed wishing to purchase a home with children under the age of 18, however believed 24% of the time that they could not afford to do so.

With the financial climate in a state of repair, and mortgage underwriting guidelines still tight, survey participants may be putting hopes before truths. People with less than perfect credit can still qualify for a mortgage, including those offered through FHA with low down payments required. With FHA 30 year fixed rates at 3.625% or less, now might be the time to buy. Feel free to contact me at pwoods@mychartermtg.com today to investigate your home purchase options.

Student Loans Create Ghosts of First Time Home Buyers

Many wonder if we aren’t creating a market of permanent renters based on the student debt load reported by the end of 2012 recorded at over $1 trillion. This number has almost tripled since the $350 million debt load reported by the end of 2004.

According to a recent Federal Reserve report on household debt and credit 39 million borrowers have student loans, 7 million of which are delinquent on paying them back. With student loan delinquencies reported on credit reports, qualifying for a mortgage is next to impossible.

Of new mortgages originated, homebuyers with student loan debt made up 9% of the population in 2005. In 2012, this number dropped to 5%. During the same time period, new mortgage holders with delinquent student loans measured 2% in 2005, dropping to almost 0% in 2012.

Experts believe that despite historically low rates and low down payment programs available, increased debt burdens carried by the newest generation of home buyers will keep them out of the market for a longer time period. Add to that the stricter qualification guidelines, and the recipe for tenants over owners reigns supreme.

People are on average waiting until they are 42 years old before buying their first home according the 2012 Annual Profile of Home Buyers and Sellers developed by the National Association of Realtors. In 2010, the average first time buyer was 39.

When the federal government became the direct lender of all student loans, after industry consolidation in 2011, very little competition is left to offer a long term solution to this debt. With student loan providers limited to six government-contracted lenders servicing 85% of all student debt, refinancing or principal forgiveness aren’t likely scenarios given the control these lenders now hold.

As costs of higher education continue to escalate, and a majority of high school graduates wanting a college degree, the age of the first time home buyer will continue to rise. Without debt relief in sight for those with student loans, the age they can afford to buy may effectively put them out of the housing market for life.

Many programs are available for first time buyers with higher debt ratios because of student loans. With FHA 30 year fixed rates at 3.625% or less, and low down payment requirements, now might be the time to buy. Feel free to contact me at pwoods@mychartermtg.com today to investigate your home purchase options.

FHA Loans, the New Subprime?

While the FHA loan program for home finance was developed after the Great Depression to increase home ownership possibilities for the average American, today it is argued to be an even bigger player in the mortgage market.

In the late 1930s, buying a home required 40-50% down and payoff in three to four years. With employment at an all-time low and a housing market full of foreclosed homes, the American banking system underwent reform and FHA was hatched. Effectively, the FHA program allowed lending with lower down payment and backing by the federal government for banks to remove substantial risk from their portfolios. During the next few decades, homeownership increased substantially, to up to 40% of Americans.

Fast forward to a similar climate today, with unemployment or underemployment as well as foreclosure numbers at a high resurgence, many borrowers are turning to FHA as an answer. With substantially lower down payments, lower credit scores and higher debt to income ratios allowable than with a conventional mortgage, many people previously unable to borrow can now qualify. And as FHA seems quicker to relax their lending guidelines than conventional mortgage programs, even more people unable to qualify previously are now purchasing a home.

Let’s not fail to mention the streamline refinance FHA is currently offering either. If a borrower simply wants to take advantage of a lower interest rate or shorter term, and their loan was purchased by FHA prior to June 1, 2009, the borrower may see substantial savings. These loans do not require an appraisal, and often most or all of the closing costs associated with the refinance can be covered with the new loan amount, requiring little to no out of pocket cost for the borrower.

While many traditionalists are calling FHA the new subprime, fearing the quality of borrowers may cause another “boom” in foreclosures when we face another burst in the housing “bubble”, others argue that having more mortgages backed by the US government make controlling the quality of the market more viable and a further depressed housing market less likely. No matter where the experts fall, everybody agrees the revenue stream generated by the mortgage insurance premiums required for an FHA loan are an excellent revenue source for the government to utilize for boosting the still depressed economic climate today.

With FHA rates today, without compensating factors, at 3.25% and lower make this program an attractive option. If you are considering an FHA purchase or refinance, please contact me at pwoods@mychartermtg.com today with any questions you might have. I would be happy to help you decide if this is the best choice for you.

FHA rates

fha rates update FHA rates

fha rates and fha streamline rates for 30 year fixed mortgage rates. Compare fha rates from banks, lenders, brokers and credit unions at http://www.fha-rates-today.com

30 Year Fixed FHA Mortgage Rates:

FHA mortgage rates:
30 year fixed mortgage fha rates 3.00% – 3.75%
30 year fixed mortgage fha rates – 3.25% – 3.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
30 year fixed mortgage va rates 3.00% – 3.75%
30 year fixed mortgage va rates – 3.50% – 3.75% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
Jumbo FHA rates 30 year fixed current mortgage rates -3.25% – 3.75%
Jumbo FHA rates 30 year fixed current mortgage rates – 3.25% – 3.75% – 0 lenders fees 660+ score
Jumbo FHA rates 30 year fixed current mortgage rates – 3.50% – 4.00% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 4.0% – 4.25%
Jumbo 30 year fixed mortgage rates 4.0% – 4.5%% 0 points, 0 lender fees

FREE Quick Quote with no social security number required at http://www.fha-rates-today.com

fha mortgage rates are at all time lows for 30 year fixed mortgage rates, fha mortgage rates, va mortgage rates, and jumbo mortgage rates. Get yours today.

FHA rates

fha rates update FHA rates

fha rates and fha streamline rates for 30 year fixed mortgage rates. Compare fha rates from banks, lenders, brokers and credit unions at http://www.fha-rates-today.com

30 Year Fixed FHA Mortgage Rates:

FHA mortgage rates:
30 year fixed mortgage fha rates 3.00% – 3.75%
30 year fixed mortgage fha rates – 3.25% – 3.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
30 year fixed mortgage va rates 3.00% – 3.75%
30 year fixed mortgage va rates – 3.50% – 3.75% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
Jumbo FHA rates 30 year fixed current mortgage rates -3.25% – 3.75%
Jumbo FHA rates 30 year fixed current mortgage rates – 3.25% – 3.75% – 0 lenders fees 660+ score
Jumbo FHA rates 30 year fixed current mortgage rates – 3.50% – 4.00% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 4.0% – 4.25%
Jumbo 30 year fixed mortgage rates 4.0% – 4.5%% 0 points, 0 lender fees

FREE Quick Quote with no social security number required at http://www.fha-rates-today.com

fha mortgage rates are at all time lows for 30 year fixed mortgage rates, fha mortgage rates, va mortgage rates, and jumbo mortgage rates. Get yours today.

FHA rates

fha rates update FHA rates

fha rates and fha streamline rates for 30 year fixed mortgage rates. Compare fha rates from banks, lenders, brokers and credit unions at http://www.fha-rates-today.com

30 Year Fixed FHA Mortgage Rates:

FHA mortgage rates:
30 year fixed mortgage fha rates 3.00% – 3.75%
30 year fixed mortgage fha rates – 3.25% – 3.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
30 year fixed mortgage va rates 3.00% – 3.75%
30 year fixed mortgage va rates – 3.50% – 3.75% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
Jumbo FHA rates 30 year fixed current mortgage rates -3.25% – 3.75%
Jumbo FHA rates 30 year fixed current mortgage rates – 3.25% – 3.75% – 0 lenders fees 660+ score
Jumbo FHA rates 30 year fixed current mortgage rates – 3.50% – 4.00% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 4.0% – 4.25%
Jumbo 30 year fixed mortgage rates 4.0% – 4.5%% 0 points, 0 lender fees

FREE Quick Quote with no social security number required at http://www.fha-rates-today.com

fha mortgage rates are at all time lows for 30 year fixed mortgage rates, fha mortgage rates, va mortgage rates, and jumbo mortgage rates. Get yours today.

Streamline FHA

fha mortgage rates update

Streamline FHA rates still at all time lows. 30 year fixed FHA mortgage at 3.25%.

Home owner’s with fha mortgages are refinancing their current FHA loans by the thousands using the streamline fha refinance loan. Mortgage holders with FHA loans edorsed on or before 07/01/2009 are eligible for lower fha mip rates and are saving hundreds of dollars monthly with no costs to the borrower. Get streamaline fha refinance rates today from fha lenders and banks at www.fha-rates-today.com

FHA rates

FHA rates

FHA rates and FHA loans rates. Compare FHA lenders at www.fha-rates-today.com FHA mortgage rates have been declining steadily since earlier this year. We have some of the best mortgage rates from FHA lenders, Banks, Credit Unions, and Mortgage Brokers. Check out the FHA rates below and request a Free mortgage rates quote from one of the FHA lenders on this site.

FHA mortgage rates:
fha 30 year fixed mortgage rates 300% – 3.50%
fha 30 year fixed mortgage rates – 3.25% – 3.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
VA 30 year fixed mortgage rates 3.25% – 4.25%
VA 30 year fixed mortgage rates – 3.25% – 4.5% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
FHA Jumbo 30 year fixed current mortgage rates -3.25% – 4.25%
FHA Jumbo 30 year fixed current mortgage rates – 3.25% – 4.5% – 0 lenders fees 660+ score
FHA Jumbo 30 year fixed current mortgage rates – 3.25% – 4.5% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 400% – 4.875%
Jumbo 30 year fixed mortgage rates 5.05 – 5.25% 0 points, 0 lender fees

 

30 Year Mortgage Rates:

Conventional current mortgage rates:

30 year mortgage rates 3.25% – 3.75%
30 year mortgage rates 3.50% – 4.125% – 0 points, 0 origination fees
15 year mortgage rates 3.00% – 3.75%
15 year mortgage rates 3.125% – 4.0% 0 points, 0 origination fees

 

FREE Quick Quote with no social security number required at www.fha-rates-today.com

mortgage rates are at all time lows for 30 year fixed mortgage rates, fha mortgage rates, va mortgage rates, and jumbo mortgage rates. Get the best fha loans rates today.

FHA rates

FHA rates

FHA rates and FHA loans rates. Compare FHA lenders at www.fha-rates-today.com   FHA mortgage rates have been declining steadily since earlier this year.  We have some of the best mortgage rates from FHA lenders, Banks, Credit Unions, and Mortgage Brokers.  Check out the FHA rates below and request a Free mortgage rates quote from one of the FHA lenders on this site. 

FHA mortgage rates:
fha 30 year fixed mortgage rates 300% – 3.50%
fha 30 year fixed mortgage rates – 3.25% – 3.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
VA 30 year fixed mortgage rates 3.25% – 4.25%
VA 30 year fixed mortgage rates – 3.25% – 4.5% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
FHA Jumbo 30 year fixed current mortgage rates -3.25% – 4.25%
FHA Jumbo 30 year fixed current mortgage rates – 3.25% – 4.5% – 0 lenders fees 660+ score
FHA Jumbo 30 year fixed current mortgage rates – 3.25% – 4.5% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 400% – 4.875%
Jumbo 30 year fixed mortgage rates 5.05 – 5.25% 0 points, 0 lender fees

 

30 Year Mortgage Rates:

Conventional current mortgage rates:

30 year mortgage rates 3.25% – 3.75%
30 year mortgage rates 3.50% – 4.125% – 0 points, 0 origination fees
15 year mortgage rates 3.00% – 3.75%
15 year mortgage rates 3.125% – 4.0% 0 points, 0 origination fees

 

FREE Quick Quote with no social security number required at www.fha-rates-today.com

mortgage rates are at all time lows for 30 year fixed mortgage rates, fha mortgage rates, va mortgage rates, and jumbo mortgage rates. Get the best fha loans rates today.

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Best FHA mortgage rates
Find fha mortgage rates with 0 points, 0 Lender fees. No one has lower FHA mortgage loan fees at same rate/same loan program.  Call an FHA lender today for a personalized FHA loan quote.