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

FHA rates

FHA mortgage rates

fha rates update FHA mortgage 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 fha mortgage rates 3.75% – 4.5%
30 year fixed fha mortgage rates – 3.875% – 4.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
30 year fixed va mortgage rates 3.75% – 4.25%
30 year fixed va mortgage rates – 3.875% – 4.5% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
Jumbo FHA rates 30 year fixed current mortgage rates -3.875% – 4.75%
Jumbo FHA rates 30 year fixed current mortgage rates – 3.99% – 4.75% – 0 lenders fees 660+ score
Jumbo FHA rates 30 year fixed current mortgage rates – 4.25% – 4.75% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 4.625% – 5.00%
Jumbo 30 year fixed mortgage rates 4.875% – 5.25%% 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 3.75% – 4.5%
30 year fixed mortgage fha rates – 4.125% – 4.75% 0 points, 0 origination fees, 0 closing costs

VA mortgage rates:
30 year fixed mortgage va rates 3.50% – 4.25%
30 year fixed mortgage va rates – 4.125% – 4.5% 0 points, 0 origination fees, 0 closing costs

FHA Jumbo Rates:
Jumbo FHA rates 30 year fixed current mortgage rates -3.875% – 4.75%
Jumbo FHA rates 30 year fixed current mortgage rates – 3.99% – 4.75% – 0 lenders fees 660+ score
Jumbo FHA rates 30 year fixed current mortgage rates – 4.25% – 4.75% – 0 points, 0 lenders fee, 0 closing costs 700+ score

Jumbo Rates:
Jumbo 30 year fixed mortgage rates 4.625% – 5.00%
Jumbo 30 year fixed mortgage rates 4.875% – 5.25%% 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.

Pre-Approval Letters Are Like the Tooth Fairy

Mark Greene, contributor to Forbes Magazine, says a Pre-Approval letter for a home buyer is pretty much a fairy tale. Greene states while it is a necessary stop in the process to purchasing a home, it is essentially a work of fiction.

Why, you ask? Well, simply put, a pre-approval letter only lets a real estate agent or seller know that the potential home buyer has meet with a loan officer to determine if they meet the minimum guidelines to qualify for a mortgage. So then, why bother? Should the pre-approval letter find the same fate as dinosaurs and become extinct?

The answer is a resounding no. A well versed mortgage professional and real estate agent should educate each potential home buyer with whom they meet. First and foremost, a home buyer should have a true handle on their financial situation. The meeting with a loan officer should happen before viewing homes with a real estate agent. Providing recent bank statements, two years’ worth of the following are essential, including W-2s, tax returns, employment history and housing information. Without having actual figures to analyze, a loan officer will not have a true idea of what a buyer can afford.

Back in the rush to sell real estate at the end of the 2000s, these steps were decidedly rushed. Realtors were out to sell and loan officers wanted the referrals from real estate agents to pad their wallets. If the pre-approval process today ever fell back to these, “line ‘em up, fill ‘em out, write an offer now” ways, decidedly, the prequalification process would be pointless. With the tight underwriting guidelines today, only the most scrutinized files are approved.

Finding a loan professional that puts you through all the paces is the best way to be the most competitive buyer you can be. With so many first time buyer incentives available, and FHA loan programs offering low down payment with rates at 3.5% and less, now is the time to buy.    To see how low your home payment can be, contact me at pwoods@mychartermtg.com today.

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 PMI Changes Deemed Unfair to Home Buyers

While FHA has offered consumers the chance to buy a home with little money down, it’s most recent changes to the mortgage insurance required on their loans is unsettling for those opting to use the program after June 1, 2013.

Traditionally, FHA required private mortgage insurance on homes purchased with less than a 20% down payment, as do conventional programs. However, once homeowners get to the point of 22% equity in their home, the mortgage insurance was dropped.

FHA is now requiring this mortgage insurance to remain on the mortgage for the life of the loan. Last month, FHA also raised its premium on mortgage insurance. It has been stated that all these changes have been set in motion to help FHA recover from a deep financial hole. However, the biggest boost to FHA’s finances will come from the permanent mortgage insurance requirement. This change will make an additional $10 billion in fees for FHA.

Contrast this lifetime MI requirement on FHA loans to the conventional market, which is required to drop the MI once a loan reaches 20% equity, and the exemption for FHA seems unjust. More importantly, it’s not truly evident why FHA needs the money.

Obama administrators estimated FHA needs of $943 million for 2014, excluding any gains the agency may have received from recent legal settlements. Most of these expected losses, however, are expected from FHA’s reverse mortgage program. The permanent MI reform, however, does not apply to the reverse mortgage program. Therefore, new FHA buyers are paying to bailout a defunct program which does not have the same expensive lifetime MI requirements.

Also, with improvements in the economy and rising home prices, FHA may not need such a large amount to recover its losses. Considering the higher lifetime costs of this loan, however, FHA may be even further pigeon holed into being the “high-risk” lender, thereby shouldering more losses down the road.

Some argue buyers with little down should take the FHA loan now in hopes of refinancing in seven years or so to a conventional program, once they build up the equity needed. With rates as low as they are currently, however, that conventional refinance rate may not be low enough to show much, if any savings upon refinance.

Does this mean FHA programs aren’t the best choice anymore to buy a home with little money down? Most experts agree this is not the case. Even if a borrower refinances later to a conventional mortgage without MI at a higher interest rate which results in a payment about the same as it is with the FHA loan they are replacing, the interest is still a tax deduction. There is the silver lining.

With FHA 30 year fixed rates today at 3.625% and lower, finding an affordable mortgage with low money down is possible. To see which program best suites your needs, contact me at pwoods@mychartermtg.com today.

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 3.875% – 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.

  • jumbo FHA loan limits set to decrease December 10, 2013
    Jumbo FHA loan limits are set to decline with new FHA case numbers pulled after January 1, 2014. If you are looking at taking out a jumbo fha loan for a new home purchase or refinance please check the FHA loan limits to verify what the new limit will be in 2014.   Get FHA […]The post jumbo FHA loan limits set to decrease appeared first on FHA rates - FHA mor […]
    Jeff Hutchison
  • FHA mortgage rates November 26, 2013
    FHA mortgage 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 fha mortgage rates 3.75% – 4.5% 30 year fixed fha mortgage rates – 3.875% – 4.75% 0 points, 0 […]The post […]
    Jeff Hutchison
  • FHA rates July 11, 2013
    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 3.75% – 4.5% 30 year fixed mortgage fha rates – 4.125% – 4.75% 0 […]The post FHA rates appeared […]
    Jeff Hutchison
  • Pre-Approval Letters Are Like the Tooth Fairy May 31, 2013
    Mark Greene, contributor to Forbes Magazine, says a Pre-Approval letter for a home buyer is pretty much a fairy tale. Greene states while it is a necessary stop in the process to purchasing a home, it is essentially a work of fiction. Why, you ask? Well, simply put, a pre-approval letter only lets a real […]The post Pre-Approval Letters Are Like the Tooth Fa […]
    Patty Woods
  • Young Americans, Optimistic or Home Buyers? May 30, 2013
    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 […]The post Young Americans, Optimist […]
    Patty Woods
  • Student Loans Create Ghosts of First Time Home Buyers May 30, 2013
    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 […]The post Student Loans Create Ghosts of First Ti […]
    Patty Woods
  • FHA PMI Changes Deemed Unfair to Home Buyers May 29, 2013
    While FHA has offered consumers the chance to buy a home with little money down, it’s most recent changes to the mortgage insurance required on their loans is unsettling for those opting to use the program after June 1, 2013. Traditionally, FHA required private mortgage insurance on homes purchased with less than a 20% down […]The post FHA PMI Changes Deemed […]
    Patty Woods
  • FHA Loans, the New Subprime? May 21, 2013
    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 […]The post FHA Loans, the New Subprime? ap […]
    Patty Woods
  • FHA rates May 15, 2013
    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 […]The post FHA rates appeared […]
    Jeff Hutchison
  • FHA rates May 5, 2013
    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 […]The post FHA rates appeared […]
    Jeff Hutchison
FHA rates 24/7
t’s never been easier to get the best mortgage rates, FHA rates, 30 year fixed FHA mortgage rates, FHA streamline refinance rates, FHA jumbo loan mortgage rates, FHA 5/1 arm rates, FHA 7/1 arm rates, FHA loan costs, and FHA loan fees for FHA mortgage rates and FHA jumbo mortgage rates including 30 year fixed fha mortgage rates, and fha arm rates.
Fast and Easy.
save time and money ensuring the right fha mortgage loan product at the best mortgage rates and fees for your home.  
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.