There’s an old adage He Who Has the Gold Makes the Rules aka ‘ The Other Golden Rule’. Nothing could be further from the truth in this scenario so the best answer here is ‘It depends’.

Thanks to President Obama’s recent directive to HUD to reduce the PMI there are three million homeowners who can now refinance at today’s historic low interest rates without any credit, income, or appraisal requirements! The programs is designed to help …

Streamlined FHA Refinance No Credit, Income or Appraisal Required! Read more »

Frequently Asked Questions and Answers to the new Conventional 97% Mortgage. Is the Conventional 97 a government-backed mortgage program? Yes, the Conventional 97 mortgage program is backed by the government. It’s offered via Fannie Mae only. The program is not …

Conventional 3% Down Mortgages 27 FAQ’s Read more »

Surprisingly, one of the brightest spots of the president’s State of the Union Address last night which might have received a standing ovation from both sides of the aisle barely received a passing mention! The bright shining spot in his …

How much will the new FHA MIP Rules change save me? Read more »

Contrary to many schools of thought there are still mortgage loan programs which permit the use of gifted funds for some or even all of a borrower’s down payment. In this post, we will focus on FHA loans specifically. Although …

When are Gift Funds Allowed? Read more »

After a 15 day government shutdown that seems to have accomplished little else  except forcing the federal government to admit they have to create a budget and soon, the Fed has opened for business. So now what?  Internal Revenue Service …

FAQ – The Government has reopened, for now; how is my mortgage affected? Read more »

There’s been a lot of rhetoric coming from both sides of the congressional aisles these days; from Democratic and Republican parties and even a few in between. But recently the media has begun reporting government shutdown fallacies as facts. I’ve …

FAQ – How Will a Government Shut-down Delay My Mortgage Loan Application? Read more »

This 15 page letter outlines how the FHA plans to make exceptions that will allow borrowers with troubled past related to the economic malaise commonly called the Great Recession, to reenter the market in a shorter time-frame.

What Is an FHA 203k Loan? This loan can help you buy and repair a fixer-upper or what is sometimes called a Handyman special FHA 203k loans are loans that are insured  by the Federal Housing Administration The federal government …

FAQ – What is an FHA 203(k) loan good for? Read more »