Congress moved to raise the loan limit for mortgages backed by the Federal Housing Administration recently, despite some lawmakers’ fears of artificially propping up the market. The bill increased the ceiling on the loans to $729,750, up from $625,500 in October. The loan limit had been raised to this level before in an attempt to […]
FHA Loans: Waiting Will Cost You Big Time
FHA Loans: Waiting Will Cost You Big Time The FHA is making proposals to change mortgage insurance premiums, FICO (credit score) and down payment combinations and seller concessions. The changes will be posted in the Federal Register next month and after a comment period would become effective early summer. With these rule changes, an FHA […]