When are Gift Funds Allowed?

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 there are many more requirements, this post is intended to focus only on the highlights…

FHA Annual Mortgage Insurance Premium to Increase

This increase could cost your buyers more money each month for their total monthly mortgage payment. What can your buyers do? If they are close to contract, advise them to buy now before the new mortgage insurance premium takes effect. They must have an active loan application for the subject property prior to April 18, 2011.