While Fannie Mae will buy a loan with as little as 3% down, and Freddie Mac at 5%, loans with less than 20% down require borrowers to also pay for private mortgage insurance. When the housing market crashed, the private mortgage industry lost billions and such insurance was tough to get. Now, that industry is recovering and the cost for private mortgage insurance has dropped for borrowers with higher credit scores. More home borrowers are deciding it’s better to pay for insurance instead of Fha loans texas putting 20% down, says Matt Johnson, loan officer at Sterling Bank in Seattle. Rising home prices.
Full original article: Mortgages with 10% or less down are on the rise
I Want To Refinance: Comparing FHA Loans with Conventional Mortgages
Those who qualified for refinancing had an average credit score of 701. FHA Refinance Rates FHA refinance rates are based on current market conditions, as well as your credit score. The FHA does not set the rate for a loan, but it does make it easier for you to qualify for one. If you have good credit, these rates should be similar to what you would qualify for with conventional mortgages. If you have poor credit, your rates will be higher.
Full original article: I Want To Refinance: Comparing FHA Loans with Conventional Mortgages
Direct Lenders Approve Bad Credit Borrowers for Thousands in Cash in a Tight Credit Market
This is a resource site for those who may fall in the poor to bad credit classification. Visitors can access information on bad credit lending in many categories: personal loans, car loans, unsecured business loans and student loans. Prospective borrowers can complete a simple application and gain access to hundreds of pre-screened direct lenders. “Our mission has always been to locate the best direct lenders available ,” stated Badcreditpersonalloans.net spokesman Peter Myers.
Full original article: Direct Lenders Approve Bad Credit Borrowers for Thousands in Cash in a Tight Credit Market