Buyers tip of the week in Gainesville Florida!!!


 

Fruit

 

 

NEW FHA RULES ALTER PAST ASSUMPTIONS

 

 

 

Home Facts: What is the FHA?  The Federal Housing Administration, generally known as “FHA”, provides mortgage insurance on loans made by FHA-approved. FHA insures mortgages on single family and multifamily homes.  It is the largest insurer of mortgages in the world, insuring over 34 million properties. (For any questions please ask your Newsletter sponsor by clicking EMAIL on the left)

 

HomeFacts Two: What is Mortgage Insurance? Mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner’s default. There are other providers of Mortgage Insurance based on the mortgage origination.

 

The FHA said new rules in effect in April will raise annual insurance premiums for most new mortgages by one-tenth of a percentage point. Also, most borrowers will be required to pay mortgage-insurance premiums throughout the life of the loan. Historically homeowners could cancel, and stop paying for mortgage insurance when the outstanding loan balance reached 78% of the original principal balance.

 

FHA is a major player in the housing finance sector. FHA’s share of single-family-home-purchase loans is about 26%. About 78 percent of those loans were made to fist time home-owners. The FHA is different from the role that Fannie Mae and Freddie Mac play. The FHA doesn’t “buy mortgages” from banks like Fannie and Freddie but the FHA insures approved mortgages.

 

 

As  always enjoy!

Laura A Goldberg  REALTOR ABR,GRI,SFR,BPOR, SRES, E-pro,RSPS

Classic Properties Realty

Cell/Text  352-327-2997                                                                                 abr1

Fax: 866-591-3002 toll free

Email:Gainesvillerealestate@yahoo.com

Email: Gainesvillebuyerpro@gmail.com

Web/Blog http://www.lifeingainesvilleflorida.com

I am passionate about Real Estate !!

new logo!!

 

Comments are closed.

Laura Goldberg REALTOR GRI,ABR,SFR,RSPS,SRES,

1-352-327-2997 call or text
7 days a week!!! 9-?
Email me: Gainesvillerealestate@yahoo.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 283 other followers

%d bloggers like this: