Julie Johnson

Better Homes & Gardens Real Estate | David Winans & Associates

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Entries Tagged as 'Finance'

FHA Raising Monthly Mortgage Insurance

February 16th, 2011 · No Comments · Finance

HUD recently announced that they will be increasing monthly M.I. M.I. is the fee HUD charges monthly with your payment. Currently the M.I. fee is .90% of the loan amount, but this monthly fee will increase to 1.15%. That is a .25% increase. Don’t get (M.I.P) Mortgage Insurance Premium. and M.I.(Mortgage Insurance) confused, they are [...]

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Loosening of Lending Belts

February 15th, 2011 · No Comments · Finance

For the past couple of years, getting a home loan has been getting harder and harder. Finally, there is some good news. Both Wells Fargo and Quicken Loans have decided to lower the accepted FICO score for an FHA loan to 580. Previously, all FICO scores had to be over 620. This is great news [...]

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Tags:credit score·FHA·FICO·home buying.homes·houses·housing market·loans·mortgages

No Mortgage Brokers? Bad for consumers.

February 13th, 2009 · 2 Comments · Finance

Mortgage Brokers are responsible for finding loan options for home buyers. They work with many banks, increasing competition, to get you the best possible interest rate. But the banks want to change this. They want to cut out what they see as a “middle man” and have their bank loan officers work with buyers directly. [...]

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Tags:Banks·Lenders·loans·Mortgage·Mortgage Brokers