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FHA loans: Definition, requirements and limits
Bankrate via AOL· 3 hours agoThese go into the Mutual Mortgage Insurance Fund (MMIF) that covers loss claims. Although you’ll pay the premiums as the borrower, FHA mortgage insurance...
Today's 15-year mortgage rates go down while 30-year mortgage rates hold steady | April 23, 2024
FOX Business· 10 hours agoThe interest rate on a 15-year fixed-rate mortgage is 6.500% as of April 23, which is 0.125...
What is correspondent lending?
Bankrate via AOL· 2 hours agoCommunication with the lender: Unlike with a mortgage broker, you deal directly with the entity funding your loan and setting the guidelines. They can...
FHA loan requirements for 2024
FOX Business· 4 days agoThe maximum DTI for an FHA loan is 43% unless the borrower has “acceptable compensating factors,” in which case you can be approved with up to a 47% DTI ...
How to prepare for FHA appraisal requirements
Bankrate via AOL· 4 days agoKey takeaways An FHA appraisal assesses your home’s market value and condition to determine whether the home loan is a sound investment for the...
Assumable mortgage: What is it and how does it work?
Bankrate via Yahoo Finance· 6 days agoThe main types of mortgages that can be assumed are FHA loans, VA loans and USDA loans: FHA loans: For FHA assumable mortgages, you’ll ...
VA loans: What they are and how they work
Bankrate via AOL· 4 days agoThese types of mortgages have more relaxed baseline requirements than conventional loans, and sometimes better interest rates, too. Here’s a...
What is an energy-efficient mortgage (EEM)and how can it save you money?
Bankrate via Yahoo Finance· 4 days agoWhat is an energy-efficient mortgage (EEM)? An energy-efficient mortgage (EEM) is a loan for...
Cash-out refinance: What it is and how it works
Bankrate via AOL· 1 day agoShopping around for the best cash-out refinance rates: Compare...home, for example, you often can only borrow up to 75 percent. The figures vary with...
What is a loan-to-value ratio?
Bankrate via Yahoo Finance· 4 days agoLoan-to-value ratio requirements by loan type There are many types of mortgages, and their specific loan-to-value ...