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New FHA Loan Rules Provide New Options to Home Buyers

by Alan Daniels

FHA will be lowering their annual mortgage insurance premiums by half a percentage point following word from the White House last week stating that as many as 250,000 new buyers will be able to purchase a home. This is great news for home buyers looking to have the most options available to them to buy a home!

Benefits of this change:

  • It could open up an option for Home Buyers who did not qualify before.
  • Opens up more loan options for Home Buyers.  Nothing like a little competition for your business.
  • Private Mortgage Insurers will have to cut premiums to compete with FHA which could be favorable in loan options outside of FHA.

Want to know how this change effects you?  Click Here for a  quick Loan Analysis.

FHA Loan Limits Increased!

by Alan Daniels
The FHA loan limits have been raised to $325,000.00 in El Paso County.  If you are buying a home in this price range this is great news, as all of the underwriting requirements for conventional loans have been tightening.  FHA is currently not credit score driven.  It is payment history driven.

Displaying blog entries 1-2 of 2

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